You can offset gambling winnings with losses

Name: You can offset gambling winnings with losses
Duration: 65 s
Description: If you get a W2G for gambling winnings, you can deduct your documented losses up to the amount you won.

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Got a W-2G from the casino? Before you panic or just pay what the IRS says you owe, know this: gambling losses can offset your winnings. TJ walks through a real case where a client faced $30,000 in unreported winnings—and explains how the rules let you bring that tax bill down legally.

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