Should I Report My Gambling on My Taxes Even If I Lost Money?

Lost money in your gambling journey? Should you report this to the IRS anyways? The answer may surprise you, find out now! Caveat: This video assumes that you do not qualify as a professional gambler for tax purposes. Do you have unfiled tax returns that need filing? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/ Table of Contents: 0:00 Net Loss - Should I Still Report Winnings and Itemize the Losses? 0:49 The IRS Does Not Know You Lost Money Unless You Tell Them About It! 1:32 The 1099-K Works the Same Way! 2:24 Your Gambling Winnings Can Always be Reported as Income! 3:20 Itemize Your Gambling Deductions! 4:20 Same States do Not Allow You to Deduct Your Gambling Losses! #LLC #Partnership #taxreturns