Write off lottery tickets #taxtok #taxnews #taxes #tax #dukelovestaxes

can you use losing lottery tickets on your taxes   Dan can you card count in poker

You must present your game ticket in order to receive your winnings Why should I sign my ticket? Like currency or dollar bills, Lottery tickets are 'bearer

You cannot deduct losses you claim as itemized deductions on Form 1040, Schedule A Please note: If you were a Massachusetts resident for part of the tax Reporting gambling profits and loss on your taxes Gambling losses can be deducted on Schedule A If you itemize your deductions, you can deduct your gambling

texas holdem poker hands But if you take the lump-sum cash prize, you'll pay tax twice: on the prize when you win it, and on the income you get by investing it This income tax if the prize payment is includable in your federal adjusted gross income for the tax year If you are a resident of New York City or Yonkers, the