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Standard deduction is $12,000 single, $18,000 head of household, and $24,000 married filing jointly.
Add up all your other itemized deductions (charity, state and local income tax and property tax) and see how close you are to the standard deduction for your status. The amount of gambling losses that will actually offset your winnings is the amount over the standard deduction.
For example, if you are single and your itemized deductions would be $6,000, then you would normally take the $12000 standard. When you add $14,000 of gambling losses, that is $20,000 total itemized deductions, which means your new itemized deduction is $8000 more than the standard deduction, that's the amount of winnings that will be offset.
Also be aware that your state may have different rules and different deductions, you might get more or less of an offset on your state return.
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