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rfbarrett
New Member

Gambling: won $1000 on a Mass. lottery ticket, but have losses in a Mass. casino as well - can losses be used to offset winnings, even partially?

Looking for answer for Mass. state return, not Federal.

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NicoleU
New Member

Gambling: won $1000 on a Mass. lottery ticket, but have losses in a Mass. casino as well - can losses be used to offset winnings, even partially?

It depends,  Massachusetts purposes, losses up to winnings are not deductible even if they may be claimed as an itemized deduction on U.S. Form 1040, Schedule A. It does not follow Federal rules.

Massachusetts does allow the cost of any winning ticket or chance to be deducted from the winnings received from such ticket or chance.

Please see this Massachusetts link, please look at Example #1 to Illustrate Mass vs. Federal Reporting of Gambling Winnings and Deductions for more information: http://www.mass.gov/dor/individuals/filing-and-payment-information/guide-to-personal-income-tax/mass...





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NicoleU
New Member

Gambling: won $1000 on a Mass. lottery ticket, but have losses in a Mass. casino as well - can losses be used to offset winnings, even partially?

It depends,  Massachusetts purposes, losses up to winnings are not deductible even if they may be claimed as an itemized deduction on U.S. Form 1040, Schedule A. It does not follow Federal rules.

Massachusetts does allow the cost of any winning ticket or chance to be deducted from the winnings received from such ticket or chance.

Please see this Massachusetts link, please look at Example #1 to Illustrate Mass vs. Federal Reporting of Gambling Winnings and Deductions for more information: http://www.mass.gov/dor/individuals/filing-and-payment-information/guide-to-personal-income-tax/mass...





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