Bad News for Gamblers

[Lee B]

Under the OBBB, only 90% of gambling losses will be deductible.

I'm sure there are other tax tidbits that will pop up.

[kathyc2]

Twitter was abuzz about that yesterday.  Some guy was going on why if he won 400K but lost 500K why he now has to pay tax on the 40K.  He didn't like my answer that it's a stupidity tax on people that throw away money gambling.