Re: Taxes question
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You may also deduct your losing sessions if you do not take the standard deduction - but only up to amount of your winning sessions.
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We cant take the standard deduction and deduct our losing sessions?
I would love for a cpa or tax expert to do an in-depth gambling winnings tax faq and have it stickied.
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You want an FAQ on Gambling taxes?
Check out:
The Gambler's Guide to Taxes, written by Walter L. Lewis, who just happens to be a CPA.
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