How To Deduct Gambling Losses From Your Tax Returns

can you write off lottery losses
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The IRS allows you to claim your gambling losses as a deduction, as long as you don't claim more than you won The deduction can only be claimed if you

However, the bad news is that gambling losses are only deductible up to the amount of your winnings This means that you can use your losses to

can i play the lottery online Gambling losses are not deductible for Connecticut income tax purposes even though, in certain circumstances, they are deductible for federal income tax

can''t access national lottery website An individual can deduct gambling losses only to the extent of his or her gambling winnings included in gross income ( Code Sec 165; Reg §)