Reply To: Gambling losses?

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#5106
kaneohe
Participant

My impression is that gambling losses have “always” (at least in recent time before the new tax law) been taken as itemized deductions (limited to the amount of the winnings). This meant that you could only benefit from the losses if you itemized. I am not aware of any case where you could offset losses against winnings if you used the setandard deduction.