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https://www.etax.com/ You can’t deduct any gambling losses that exceed the amount you win and report as income. That means if you won $5000 by gambling, …
In order to claim gambling losses as deductions on a tax return, records must be kept of all winnings and losses during the whole year. Understand all the …
Gambling winnings are taxable and gambling losses can be deducted up to the amount of winnings. However, taxpayers need to itemize their deductions in …
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