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About tax when you lose, they indicate it as itemized deductions and are deducted onto your winnings. Since it would be much better should you take proper your taxes and keep them on good track. Listed under “other miscellaneous deductions”, it is deduct up to a whopping the amount you have declared with your total income. Please be reminded that you are not allowed or you can’t show a gambling tax passing. For example, if you have declared $5,000 with your winnings, you should also declare $5,000 in your itemized deductions under obligations. Just make it sure that you won’t exceed for the amount that you have recently reported.

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