Know the five important tips on gambling income and losses

can you claim lottery losses on taxes
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Generally, you cannot deduct gambling losses that are more than your winnings We do not tax California Lottery or Mega millions Visit

Gambling winnings are taxable, but what about gambling losses? Have a question you want to

canada lottery 649 Gambling losses are tax deductible, but only to the extent of your winnings However, the losses are only deductible if you itemize your deductions If you take

canada lottery online 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