Gambling winnings and losses are equal why federal tax
I am Using TurboTax Premium edition. My gambling winnings and losses are equal but the Federal tax liability did not change after entering gambling losses..
Gambling winnings and losses are equal why federal tax
Gambling losses do not directly offset gambling winnings. Gambling losses are an itemized deduction. They will not change your tax unless your total itemized deductions are more than your standard deduction.
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