What the IRS Gambling Loss Deduction Rules Mean for Bettors
Story summary
Taxpayers who itemize federal returns will likely be able to deduct 100% of their gambling losses against winnings for the 2026 tax year. On Wednesday (Sept. 16), the House Ways and Means Committee passed the Digital Asset Tax Certainty Act with a 38-5 vote. While House Resolution 10357 modernizes t
📌 Key Highlights & Takeaways
- Taxpayers who itemize federal returns will likely be able to deduct 100% of their gambling losses against winnings for the 2026 tax year.
- On Wednesday (Sept.
- 16), the House Ways and Means Committee passed the Digital Asset Tax Certainty Act with a 38-5 vote.
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