gambling and taxes

Taxes October 17, 2025 

The Democratic Illinois governor offered a simple explanation on Oct. 16 for how he took home more than $1.4 million in gambling winnings last year: "I like to play cards."

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.

JD, Ken Berry, JD