Do scratch off losses count as gambling losses?
Do scratch off losses count as gambling losses?
Lotteries When playing the lottery you are advised to keep a record of the tickets you bought and on which dates, as well as any winnings Back up
No expenses attributable to gambling and lottery income are deductible Expenses such as: parking, postage, entry fees, meals and lodging or travel may not be You can deduct gambling losses if you itemize your deductions on your tax return, but you cannot deduct more than the gambling income you received You'll need
how to protect lottery winnings To deduct your losses, you must keep an accurate diary or similar record of your gambling winnings and losses and be able to provide receipts, tickets, However, you don't need to declare prizes won in ordinary lotteries such as lotto draws and raffles If you win prizes as a game show contestant, you only
