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Mlife Win Loss Statement 2019detroit Mich  Form

Mlife Win Loss Statement 2019detroit Mich Form

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have you ever lost your mind in las vegas and gambled away a little bit too much last time i was there my partner actually got cut off by his bank so hopefully that won't happen to you but you can actually deduct your gambling losses so that's a little bit of good news i'm kristen brand and i want to talk to you about how you can deduct your gambling losses now the hardest part about this is you've actually got to keep records of your winnings and your losings you can only deduct your losses to the extent of what you win so you've got to at least have some income to offset you can't just take that loss against all of your other things there's actually a spot on your tax form which is on schedule a of the form 1040. your gambling losses will go down here at the bottom under other miscellaneous deductions so that's where they would go now the key is to actually not lose so much money so you should quit while you're a

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