If I have gambling winnings but equal gambling losses, why does it reduce my refund so much? Is it treated as straight income regardless of the loss?

This is for a Wisconsin return.

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If I have gambling winnings but equal gambling losses, why does it reduce my refund so much? Is it treated as straight income regardless of the loss?

Yes, it is treated as straight income if you don't itemize.

If you take the standard deduction, then you have lost the ability to take those losses.

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