Solved
Why when i put gambling winnings and same for losses does it reduces my return?
I put in my gambling winnings and same for losses and it reduces my return?
The winnings are income and the losses must be taken on the Sch A as itemized deductions BUT that will only be helpful if you can itemize deductions. Until the Itemized deductions exceeds the standard deduction you will see no benefit on the return.
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