Article Date:
April 2018


Word Count:
743

 

 

Tax Reform Makes Professional Gamblers Who Lose Money Suffer More


If you are a professional gambler and you have a bad year, your bad year just got worse if you lost money and incurred that loss in a tax year beginning after December 31, 2017, and before January 1, 2026.

 

Before tax reform, professional gamblers were mistreated by the tax law when they incurred losses, because they could deduct as a loss only that part of the loss attributable to business expenses.

 

But now, for eight years, the professional gambler who incurs ... Log in to view full article.

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