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Deducting Gambling Losses at a Glance

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You may be able to deduct gambling losses if you itemize deductions.

You CANNOT deduct more than the amount of gambling income you report on your return.

More Information

Tax Topic 419 - Gambling Income and Losses


Related Forms

Form 1040, Schedule A, Itemized Deductions (PDF)


Related Publications

Publication 17, Your Federal Income Tax - Chapter 28, Miscellaneous Deductions - See Deductions Not Subject to the 2% Limit for essential guidance

Publication 529, Miscellaneous Deductions- See Deductions Not Subject to the 2% Limit for detailed guidance


Tools

Do I Need To Claim My Gambling Winnings and Can I Deduct My Gambling Losses?

Page Last Reviewed or Updated: 25-Jan-2017