Some say so, Under current rules one can deduct gambling losses at 100% of winnings,
Win 100k & lose 100k the tax is a wash zero tax.
In the bill passed & signed the deduction is limited to 90% so win 100k lose 100k you owe 10k in tax without gaining a dime.
What a shame! Guess they will have to get a regular job-lol!
I don’t know that’s mighty close to a four letter word
No you would not owe 10k in tax, you would deduct 90k from your taxable income and then only have to pay tax on 10k.
If your poker winnings were your only income, 10k would probably be under the minimum taxable and you would not pay tax.
If you made 500k on real estate then you would add 100k poker winnings, and then deduct 90k of poker losses, and pay x% tax on 510k total taxable income.
yeah, what I meant was tax on 10k correct.
Any way ya look pros don’t like it, 100k winnings 80k lost, 20 profit taxed today 28 taxed when in effect Jan 2026
That is $5,600 in taxes (federal) on winning 20k and we got 2 pay state tax also ( in my state )…geez, i am ready for some antacid:)…
WTF------that new bill will piss me off:(------i play poker on 2 sites n do my sports things ( fantasy sports for REAL money) on 4 other sites—I pay taxes every year ( get a few 1099 forms )…10% is actually a lot when you do MANY sports n games ( i bet on players as i am good with stats etc . )…
Agree. In pretty much any other industry 100% of losses are deductible. Uncle Sam is never fair. He does not care, he just says, “Gimme! 'Cause I say so!”
Wife works–we do our taxes together (ok, i do them) and we been paying that extra federal and state tax for years ( from my 1099’s i get ) so i wait until April 15Th 2 pay----no taxes on overtime or tips—how about no taxes on gambling:).
Strings to the overtime, can deduct UP TO $12.500 of OT better then a sharp stick in the eye but it’s not “no tax” Tips I didn’t look into.
Not exactly welcomed by us horseplayers, either.
2023 the US Government respectively surpassed Walmart, Amazon, UPS, and FEDEX as the top employer in the US. It is big. Very big. Still growing faster than any business is the US. No other business has added more employees in 2025.
OMG------work--------sounds like a BAD 4 letter word 2 me lol:).
It is a REAL job my friend—i have 2 check every day for players hurt, getting arrested, who is hot ( and who is not ) and SOOO much more hard work----playing conditions of fields, rain, snow etc. etc.
The no tax things are bull–wife works lots of overtime–she must not like spending time with me lol…Anyways, u still have 2 pay ALL the other taxes on overtime (SS, state, local, payroll etc. ) and can only deduct the federal when you do your taxes:(.