Writing off gambling losses to offset a winning lottery ticket? : rtax

losing lottery tickets tax writeoff
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This means that you can use your losses to offset your winnings, but you can never show a net gambling loss on your tax return Gambling losses

While you can write off some gambling losses if you itemize, that deduction can't exceed the amount of your winnings The tax code is very 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 play texas lottery online_ 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 on the New Jersey gross income tax return Evidence of losses may take several forms, including providing losing tickets, a daily log or journal of wins and