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Old 03-04-2010, 08:54 AM
Lestrade Lestrade is offline
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Join Date: Jul 2009
Posts: 251
Quote:
Originally Posted by Lemur866 View Post
You can deduct gambling losses, but only against gambling wins. So if you lose $1000 at the blackjack tables today, win $8000 tomorrow, and lose $3000 the next day, you only owe taxes on $4000.
That's interesting, I didn't know that (irs.gov gambling tax tips). Thank you for correcting me.