How do I claim my gambling winnings andor losses on my tax return?

can you claim lottery losses on taxes
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Unless you are a professional gambler, your gambling losses are deductible only if you itemize your deductions You cannot offset them against

NOTE: We do not subtract gambling losses from gambling winnings in determining an individual's countable income 2 Choice between cash and in-

can i play the 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

can you buy lottery tickets with a debit card in michigan If a taxpayer itemizes deductions for federal tax purposes, he may deduct his gambling losses for the year, up to the total amount of his