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Tax & Casino Winnings: Do I Have to Pay Tax?
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How The IRS Taxes Gambling Winnings: A Beginner’s Guide
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If you have gambling losses, you may be able to claim them to help offset winnings. The non-cash winnings are to be reported as other income, and they are taxed using their Fair Market Value.
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The total itemized deductions include the following: medical bills, donations, and mortgage.
How to Pay Taxes on Gambling Winnings and Losses
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