nightoftheiguana2000@yahoo.com wrote:
>correna2 wrote: "I vaguely recall reading somewhere (likely on this message board) that carryover losses can be claimed"
>
>No, you can carryover investment loss, but not gambling losses. So gambling when the N0 is more than a year is pretty much a folly.
>
>http://pokerfuse.com/features/in-depth/taxation-gambling-professional-versus-amateur-gambler/ http://pokerfuse.com/features/in-depth/taxation-gambling-professional-versus-amateur-gambler/
I believe losses on schedule C are neither gambling nor investment,
but business losses, which can be carried forward.
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