Can I deduct gambling losses on my taxes?

Answer Yes, gambling losses are deductible. A taxpayer may deduct gambling losses only if itemizing deductions on Form 1040 Schedule A. Gambling losses are only deductible to the extent of gambling winnin... Read More »

Top Q&A For: Can I deduct gambling losses on my taxes

How to Deduct Gambling Losses on a Federal Income Tax Return?

The Internal Revenue Service requires that you report all of your gambling winnings on your income taxes so they can be included as taxable income. The IRS also permits you to reduce your taxable i... Read More »

Can I deduct IRA losses on federal taxes?

Only in very rare and limited circumstances can you deduct an IRA loss on your taxes. To qualify, you must close the IRA, and the total amount of distributions you received from the account must be... Read More »

How Long Can You Deduct Capital Losses on Income Taxes?

Nero Burning ROM allows users to burn audio CDs, video DVDs and data DVDs quickly. Data DVDs may contain files, folders and programs, all of which can be accessed from Windows Explorer. If you requ... Read More »

How to Deduct IRA Losses?

The Internal Revenue Service permits people to deduct losses from their individual retirement accounts (IRAs), but only in limited circumstances and only against their tax basis in the account, not... Read More »