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user3446170
Level 2

Need info on massachusetts gambling losses; are Mass casino gambling losses deductible on Mass tax?

 
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AnthonyC
Level 7

Need info on massachusetts gambling losses; are Mass casino gambling losses deductible on Mass tax?

Yes, certain Mass casino gambling losses are now deductible - but only up to the amount of your winnings from those same establishments. 

"Massachusetts has adopted a new deduction from 5.1% income, allowing a deduction for losses from wagering transactions, that were incurred at a gaming establishment licensed in accordance with MGL ch 23K or a racing meeting licensee or 2018 Form 1 Instructions 22 simulcasting licensee, only to the extent of the gains from such transactions."

See pages 21 and 22 of the Form 1 instructions for a detailed explanation and some examples

https://www.mass.gov/files/documents/2019/01/16/dor-2018-inc-form-1-inst.pdf

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user3446170
Level 2

Need info on massachusetts gambling losses; are Mass casino gambling losses deductible on Mass tax?

Mass gambling wins/losses are treated differently than Federal or any other state. Mass W2G lottery/keno wins are also treated differently than a Mass casino win. The only Mass lottery/keno loss that can be deducted on Mass tax returns are the costs of winning tickets. If a W2G was rec'd from a Mass casino, request your win/loss statement(s) from Mass casino's to determine your Mass overall gambling win/loss; your W2G win will be included in your statement total. If your Mass statement(s) total a win, you do not have a loss to deduct, nor will you have proof of any gambling loss. If your Mass statement(s) total a loss, then you can deduct the amount of that total Mass casino loss and keep the win/loss statements as your tax documentation. For Mass tax, cannot deduct casino losses from any casino's outside of Mass.
AnthonyC
Level 7

Need info on massachusetts gambling losses; are Mass casino gambling losses deductible on Mass tax?

Yes, certain Mass casino gambling losses are now deductible - but only up to the amount of your winnings from those same establishments. 

"Massachusetts has adopted a new deduction from 5.1% income, allowing a deduction for losses from wagering transactions, that were incurred at a gaming establishment licensed in accordance with MGL ch 23K or a racing meeting licensee or 2018 Form 1 Instructions 22 simulcasting licensee, only to the extent of the gains from such transactions."

See pages 21 and 22 of the Form 1 instructions for a detailed explanation and some examples

https://www.mass.gov/files/documents/2019/01/16/dor-2018-inc-form-1-inst.pdf

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