How to write off lottery, sports gambling losses on your taxes

This means that you can use your losses to offset your winnings, but you can never show a net gambling loss on your tax return Gambling losses

Gambling losses are tax deductible, but only to the extent of your winnings However, the losses are only deductible if you itemize your deductions If you take

can''t access national lottery website Can you deduct gambling losses? You can deduct losses from your gambling, but only if you itemize your deductions and keep an accurate record of

can you beat a slot machine 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