- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: tax deduction question
Posted on 4/13/24 at 9:48 am to OceanMan
Posted on 4/13/24 at 9:48 am to OceanMan
Not saying to allow net losses to be deducted. Just that a net zero at end of year ( amount won is equal to amount lost during the entire year) shouldn’t have an impact on overall tax owed. I gained nothing overall from the gambling wins as I lost equal amount but now owe more tax on my work income. Stocks I can lose $3k more than I profit in a new year and deduct that amount completely different situations. Stocks as stated by another poster are treat as a net therefore if you have net zero at end of year it doesn’t impact your tax owed or your use of standard deduction.
Popular
Back to top
Follow TigerDroppings for LSU Football News