Writing Off Gambling Losses on Your 2023 Taxes

can you write off lottery losses
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You cannot deduct more in gambling losses than you report in gambling winnings on your federal income tax return You will need records to prove

A married couple could not deduct their gambling losses because evidence, including their prior tax treatment of the activity,

can you play lottery with debit card If your losses were greater than your winnings, you cannot report the negative figure on your New Jersey tax return You must claim zero income

can you make money playing poker Gambling losses are deductible to the extent of gambling winnings All deductions for expenses incurred in carrying out wagering transactions,