Gambling Loss Deduction | 90% Cap in Effect for 2026
Gamblers Now Owe Tax on Money They Never Won. The Fix Is Stuck in Congress. The federal gambling loss deduction changed on Jan. 1, 2026, and the change is now real money out of real pockets. Under the old rule, a gambler who itemized could deduct losses up to the full amount of winnings, so … Read more
