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MequonCPA, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 2342
Experience:  CPA, Over 30 yrs experience w/individuals and small businesses. Masters in Tax.
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I won 14,000 dollars at a casino this year and I saved

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I won 14,000 dollars at a casino this year and I saved 14,000 dollars in lottery scratch offs. Can I use these as a write off to offset the taxes owed on this money? Thank You
Submitted: 9 years ago.
Category: Tax
Expert:  MequonCPA replied 9 years ago.


You will report your gambling winnings on page 1 of your Form 1040. You are allowed to include gambling losses up to the amount of gambling winnings shown on page 1 as miscellaneous itemized deductions on Schedule A line 28.


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