Re: Taboo Question?
[ QUOTE ]
If you are not a pro, and you itemize deductions you basically have similar position to pro but your losses are not dollar for dollar b/c they are subject to schedule A limitations
[/ QUOTE ]
Another problem is that some states disallow deducations for gambling losses for state income tax purposes. They tax the winnings and don't allow any form of offset for losses unless you file as a professional.
|