Question by seadog: If I win over 3000 gambling but bet 4000 and loose 1000 for the year do I have to report anything on my taxes?
If I win over 00 gambling, but bet 00 and loose 00 for the year do I have to report anything on my taxes? It wasn’t 1 big win. Most wins and losses were widely spread out. Do I need to send proof that I lost more than I won with my taxes? All my wins were under the “tax radar”.
Best answer:
Answer by whitney
you can only claim the amount that you lose up to your winnings amount… and be sure you have a record of your losses, for example players club cards keep a record. and yes you are required by law to report your winnings, although most rarely do
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