lindsey-320
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Hi again,I'm filling out my Schedule A and reading more carefully, and I now see that gambling losses are defined "gambling losses include, but aren't limited t...
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Thanks. I guess it is just not obvious to me from this"Gambling losses (gambling losses include, but aren't limited to, the cost of non-winning bingo, lottery, ...
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Yes, I already have to itemize my deductions every year so that is no problem. (State local taxes capped @10k + charitable giving puts me well above the standar...
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Also, I am interpreting your response as the wager is recognized as a "loss" regardless of whether you won or lost the bet?
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Thanks, I understand I can then enter losses as an itemized deduction. I am still confused as to what winnings and losses are in the above example, though. For ...
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- Posted Have a small amount of gambling (online sports betting) winnings to report as other income (no W2G). How are winnings and losses defined? on Get your taxes done using TurboTax. March 6, 2021 5:20 PM