Gambling and Lottery Winnings
Gambling and Lottery Winnings
Gambling losses are deductible to the extent of gambling winnings All deductions for expenses incurred in carrying out wagering transactions,
However, if the taxpayer itemizes their deductions, then the $9,000 of losses will be deducted, and the taxpayer will essentially pay no taxes 14 A casual gambler may only report wagering losses as federal itemized deductions, which are not included in AGI and therefore do not carry over to the
adda poker app For tax year 2018 only, Kentucky did not allow gambling losses as an itemized deduction For tax year 2019 and after, gambling losses are allowed as an For tax year 2018 only, Kentucky did not allow gambling losses as an itemized deduction For tax year 2019 and after, gambling losses are allowed as an
