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!
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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.
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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:)…
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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 . )…
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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!”
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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:).
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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.
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Not exactly welcomed by us horseplayers, either.
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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:(.
So you’re saying working and middle class Americans shouldn’t be able to make something of themselves, but should become the property of corporations?
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Actually no, it’s worse than that.
In order to clear S100k, you have to invest a great deal more. According to Google, a good return on investment for a poker player is 15-30%. Taking the low end, $100,000/15x100 = a $670K investment rounded up. In other words, you won $770,000 with $670,000 in losses.
Under the current system, in which all debts (expenses+losses) can be written off, the player, assuming they’re single and living in Florida, Texas, Nevada, etc, and not obligated to pay a state or city income tax on top of the federal rate, would owe $17,000 on the $100K ROI, rounded down, and clear $83000. They can get by on that.
When the BBB takes effect, they will owe taxes on $167K while still only clearing $100K, which in identical circumstances equals a tax of $29,600, nearly twice as much, and leaving them with just over $70K, which makes it harder to save for retirement when the average US household has more than $61K in expenses.
Now, take a full-time player who clears $300K on a $2M outlay. They would owe $70K, leaving them with $230K under existing tax law. After BBB, they would owe $140K and only keep $160,000. It’s not crippling, but is harsh when no other investor, be they a venture capitalist, home builder, or pro golfer, is faced with the same tax increase.
And what if you have a tough year while investing $2M, like a farmer who has to cope with a drought?
On a 10% ROI, your taxes would go from $37.5K on $200K in profit to $105K (more than half your earnings).
If you earn just $100K (5% ROI), your taxes increase from $17K to $70K, leaving you $30K to live on.
Poker players expect to have lean years, but the BBB will bankrupt them if they do. Remember too that a 15-30% ROI is good, and good is better than average. The average poker pro and the one just learning the trade cannot exact that level of success. Many of them will opt for other career paths. That will affect the income of the top pros and the casinos. This is why the bill puts the gaming industry in jeopardy.
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