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Old 03-03-2010, 01:30 PM
Lemur866 Lemur866 is offline
Charter Member
Join Date: Jul 2000
Location: The Middle of Puget Sound
Posts: 21,447
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.