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Tax Tips on Gambling Winnings and Losses

Posted 12/13/21

Whether you roll the dice, bet on the ponies, play cards or enjoy the slot machines, you should know that as a casual gambler, your winnings are fully taxable and must be reported on your income-tax return. You can also deduct your gambling losses, but only up to the extent of your winnings.

Here are five important tips about gambling and taxes:

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