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Casual gamblers may lose big under new tax code

Casual gamblers may lose big under new tax code

by Tiffany Mellow | Jul 11, 2018 | Personal Accounting, Personal Tax Deductions, Personal Taxes

The new tax law will cause many casual gamblers to incur bigger losses than before! Prior to 2018 you could deduct your losses up to the amount of your winnings. You did this by claiming your losses as itemized deductions. The new tax law for 2018 doubles the standard...
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