| Gambling Loss | |
 A loss resulting from games of chance or wagers upon events with uncertain outcomes (gambling). These losses can only be claimed against gambling income. |
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 Gambling losses include the cash lost at the slot machines or when the "sure bet" came up lame in the race. The total gambling losses claimed cannot exceed the gambling income. |
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 Gambling Income and Expenses - A short article on how the IRS addresses gambling income and losses. Catching a Lift on the Penny Express - The popularity of the penny stock market has grown, but are these stocks a safe bet? |
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