The Gambler's Guide to Taxes: How to Keep More of What You Win

can you write off lottery losses
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Gambling losses are indeed tax deductible, but only to the extent of your winnings and requires you to report all the money you win as taxable

Depending on your status as a professional gambler or amateur, the government allows you to take deductions for certain gambling business expenses and gambling Casualty and theft losses For federal purposes, you can no longer claim an itemized deduction for a casualty or theft loss unless it is the

poker zynga free chips In the case of taxpayers not engaged in the trade or business of gambling, gambling losses are allowable as an itemized deduction, but only to the extent of For Massachusetts purposes, losses aren't deductible even if they may be claimed as an itemized deduction on Form 1040 (