I will be doing the same. I can see no reason why the QBI deduction would not apply to a self-employed professional gambler. Another special tax break for those who do not work for wages! Not quite as good as the carried interest tax break for the hedge fund guys. My gambling profits are so low now it won't make much difference. You will get an additional deduction equal to 20% of your net profit.
I feel sorry for the non-professional gamblers with W-2Gs because they will be paying a lot more this year with the big increase in the standard deduction if they were including losses as an itemized deduction.
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Posted by: cy4873@hotmail.com
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