are gambling losses deductible mass
Gambling losses (to the extent of gambling gains) are deductible in computing. adjusted gross income insofar as they are attributable to a trade or business. (subject to the illegal activities limitation of Section 17297 of the Personal. Income Tax Law). Advice is requested as to whether gambling losses (to the extent of gambling. gains) are deductible in computing adjusted gross income or are only deductible. from adjusted gross income in computing net income.