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[4] The Tax Court held that the taxpayer's gambling was a business activity and allowed the deductions. In essence, the court held that Section 165(d) only applies when a taxpayer is at a loss instead of a net gain and “serves to prevent the [taxpayer] from using that loss to offset other income.”
Most people put their gambling winnings on their 1040 as “Other Income,” according to the IRS. On itemized taxes, you can deduct gambling losses from the taxes on your winnings. Kansas state taxes
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National Problem Gambling Helpline (1-800-522-4700): ensures local problem gambling help is just one call away anywhere in the US. National Referral Resource: NCPG maintains the only nationwide online directories of certified counselors and inpatient/residential treatment facilities that offer specialized help in problem gambling, plus state-by ...
Winning a lottery or success in another form of gambling; Returns on investments; Proceeds or profit from a large sale; Game show, or other contest winnings; Employment payroll bonus; Natural resources; Foreign aid; Proceeds from an insurance claim; Settlement from a lawsuit; Discoveries from treasure hunting