Should I Report My Gambling on My Taxes Even If I Lost Money?
Автор: Logan Allec
Загружено: 2025-02-05
Просмотров: 5608
Lost money in your gambling journey? Should you report this to the IRS anyways? The answer may surprise you, find out now!
Caveat: This video assumes that you do not qualify as a professional gambler for tax purposes.
Do you have unfiled tax returns that need filing? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/
Table of Contents:
0:00 Net Loss - Should I Still Report Winnings and Itemize the Losses?
0:49 The IRS Does Not Know You Lost Money Unless You Tell Them About It!
1:32 The 1099-K Works the Same Way!
2:24 Your Gambling Winnings Can Always be Reported as Income!
3:20 Itemize Your Gambling Deductions!
4:20 Same States do Not Allow You to Deduct Your Gambling Losses!
#LLC #Partnership #taxreturns
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