How to write off lottery, sports gambling losses on your taxes

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The flip side, of course, is that if you get a losing bet, you cannot offset those losses against other taxable gains under CGT rules in the

Generally, you cannot deduct gambling losses that are more than your winnings We do not tax California Lottery or Mega millions Visit You are only able to deduct gambling losses to the extent of gambling winnings So you will have to report all the money you win as taxable

chetak lottery ka result When it comes to deducting gambling losses, they are limited to the amount that is won while gambling Therefore, if you lost $3,000 gambling You may deduct gambling losses only if you itemize your deductions on Schedule A and kept a record of your winnings and losses The