Writing off gambling losses to offset a winning lottery ticket? : rtax

Gambling Personal income types - Franchise Tax Board - losing lottery tickets tax writeoff Unfortunately, most people don't itemize So, if you claim the standard deduction, you're out of luck twice — once for losing your bet and a second time for losing lottery tickets Lottery winnings are subject to withholding as well as to federal and sometimes state taxes If you win big, plan for the taxes ahead of

losing lottery tickets second chance are all tax deductible but only up to your winnings and requires you to report all of your