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ExhaustedTech
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Sweepstakes winnings and deductions

Can you use gambling deductions to offset sweepstakes winnings? I know you have to itemize and only upto the amount of wins but I'm specifically asking about gambling losses and sweepstakes winnings. I don't know if they count in the same bucket or if sweepstakes are something counted differently.

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Sweepstakes winnings and deductions

Technically they might not be considered gambling. The sweepstakes companies have succeeded in carving out exceptions to most gambling laws because actual money does not change hands to grant chances to win them.

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