Tax laws previously allowed gamblers to deduct up to 100% of their gambling winnings as losses with itemized deductions. That drops to 90% of their winnings for the 2026 tax year, Kiplinger said. The ...
Bally’s Chicago has finally paid a $1,200 slot jackpot to a man who won on December 20 but was forced to wait more than a ...
The tax bill only allows them to deduct 90% of their gambling losses, meaning gamblers could have to pay taxes on money they actually lost. That makes the loss even worse and, in theory, ruins things ...
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