Assertion: gambler's loss | /r/HasProperty | deductible
Facets:
value: similarly
type: DEGREE
value: against other non-gambling income
type: OTHER
value: under §
type: OTHER
value: against gaming winnings
type: OTHER
Source sentences:
text: Unresolved is whether the losses from an illegal gambling operation are deductible against gaming winnings (illegal winnings or legal winning).
text: (Note #3 some tax advisors 1 .proclaim that losses in excess of winnings are deductible against other non-gambling income.
text: The court held that the losses were, under §165(d), deductible only to the extent of the taxpayer's gambling winnings.
text: Similarly, any losses on the spread betting contracts are deductible.