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Gambling losses can be taken as a deduction on your tax return but please keep in mind you can only deduct up to the amount that you won that year.
Whether its slots or the ponies, Gambling winnings are taxable. Learn what is taxable and how to offset those gains.
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 …
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