do you guys put your gambling loses on your taxes?
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Really?Comment -
who would lie to uncle samComment -
I wish I could. Offset all my wages it seems. Actually today was my last day gambling. It's almost time to go back to chasing pussy in couple months. Almost off probationComment -
Originally posted by shaggy3000
If that was the case (offsetting wages)....my ass would be collecting banged up tickets at the bellagio.
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Well your legally allow to do that, up to a certain amount I read that in mutiple articles. but I forgot sbr is full of career 100% winners and no one puts winners on taxes
, silly me
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Sounds goodOriginally posted by shaggy3000Comment -
No.Comment -
Yes.Comment -
You can only take gambling loses from gambling earnings. So in other words you cannot deduct losses from other income sources.Comment -
I did report some winnings this year and last years. I was fortunate enough to invest some of my bankroll in a couple of real estate developments.Comment -
Thanks falcon, so basdically say u lost 5k all year, and won 0 dollars, u cannot deduct that 5k as its part of playing the game?Comment -
No.
You basically can't take a loss. Unless you have earnings to take them from. You can only take down to 0. You can take a loss if you reported earnings last year though. That's my understanding of the rule.Comment -
You can deduct your Western U and ** fees.Comment -
I would love to claim all my losses life time right now, I could buy a house in cash at the age of 25 if I could get back every dollarComment -
Not until I become a full-time PRO.... Next year.
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no.Comment -
if you're a pro you can definitely declare a loss
but as an amateur listing gambling losses as itemized deductions, you cannot declare more losses than winsComment
