Posts Tagged ‘income and losses’

6 Tips on Gambling Income and Losses

Whether you play the lottery, roll the dice, play cards, or bet on the ponies, all of your gambling winnings are taxable and must be reported on your tax return. If you’re a casual gambler, here’s what you need to know about figuring gambling income and loss. 1. Gambling income includes winnings from lotteries, raffles,…

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