losses on your tax return

[rake922]

anybody record their gambling losses on their tax return?

please share

[Boner_18]

Only to the extent of winnings not subject to the 2% floor on miscellaneous itemized deductions.

[fiveteamer]

I just paid my taxes this year for the first time in my life.

[sickler]

I just paid my taxes this year for the first time in my life.

Welcome to the workforce.

All those calls from mom to "get a job" finally sunk in.

[fiveteamer]

That's pretty accurate sickler.

[sickler]

I can read people, teamer.

There's a future homicidal maniac roaming the halls of SBR. Soon I will blow the whistle on him.

[seaborneq]

Rake, where have you been? Your skills and knowledge have been missed.

[Mudcat]

anybody record their gambling losses on their tax return?

please share

I do. I report all gambling transactions, wins, losses, fees, bonuses, you-name-it.

There would be no reason not to report losses. I would end up paying more tax than I have to. If anything, I would want to exaggerate my losses.


I feel like I am missing some nuance of the question though. Like it seems like it may be asking if actual losing gamblers are trying to claim those losses somehow. I don't know of anywhere that would fly.