Tax Scam That's Made Loser Lottery Tickets a Commodity on
Tax Scam That's Made Loser Lottery Tickets a Commodity on
With mobile sports betting starting up in North Carolina, some are wondering if losses are allowed to be deducted from your taxes
was earned , all income must be reported on your federal tax return Fortunately, you can offset your gambling winnings with any losses that you may If a player wins more than $5,000, an additional 24 percent federal withholding tax will be withheld when the prize is claimed What tax information is provided
online casino poker games For example, if you purchase a $ ticket that has a prize of $5,, taxes would not be automatically withheld because the gross proceeds are less than Gambling losses are only deductible up to the amount of your gambling winnings You can never show a gambling loss more than winnings for tax purposes Gambling
