Taxes September 2, 2025
Under the OBBBA, only 90% of gambling losses will be deductible, beginning in 2026. The other 10% is gone forever. What’s more, the overall limit on gambling losses up to the amount of gambling winnings remains in place.
Taxes August 5, 2025
The Republican Texas senator has joined with Nevada Democrats on legislation to restore the full deductibility of losses, saying it’s a matter of basic fairness for professional players who depend on their winnings to pay their bills.
Taxes July 24, 2025
The slot reporting threshold is governed by an IRS regulation, so the change will not go into effect until the agency updates its rules.