Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

Gambling losses not carrying to sch a, why?

Highlighted
Level 1
 
Labels (1)
0 Cheers
5 Replies 5
Highlighted
Level 15

Are you reporting gambling income equal to or greater than the losses?

ex-AllStar, ex-Lutefisk taste taster, ex-ACME product tester
and ex marks the spot where those rocks and anvils hit me.
Highlighted

He has statements from Casinos showing more loss than gain.  Putting it in Misc deductions isn't carrying forward.

0 Cheers
Highlighted
Level 2

I believe that Gambling Losses which are reported on Schedule A of the 1040 and not subject to the 2% of AGI limit, becomes part of the total of Schedule A.  So if the total of Schedule A is not sufficient to use in the State Return (i.e. less than the standard deduction), the losses will not be used in the State return.

Highlighted
 
0 Cheers
Highlighted
Level 11

It works on mine. Do you have a Sch A, or standard deduction?

** I'm still a champion... of the world! Even without The Lounge.
0 Cheers