TurboTax FAQ
TurboTax FAQ
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Can I deduct my gambling losses?

If you itemize instead of taking the standard deduction, you can deduct gambling losses up to the amount of your winnings.

You won't be able to deduct gambling losses if you lost more money than you won, or if you're taking the standard deduction.

For a more in-depth article about gambling loss deductions, click here.


IAS10704