Re: [vpFREE] Re: gambling loss deductions broadened under new tax law

 

lol, in retrospect I guess I was beating around the bush a bit.   Jean put it much more succinctly!


--Dunbar


---In vpFREE@yahoogroups.com, <queenofcomps@...> wrote :

This article should be completely ignored - full of outdated, incomplete, poor-explained, and downright incorrect information. 

On April 19, 2019 at 11:06 AM "h_dunbar@... [vpFREE]" <vpFREE@yahoogroups.com> wrote:

 

The article claims that "losses" deducted on Sch A can now include gambling expenses.   I looked for an independent confirmation of that, but couldn't find one.    So I'm dubious, especially considering that the new tax law is MORE restrictive on the usefulness of expenses for those filing Sch C.   Namely, it's no longer possible to deduct the part of a yearly net loss that's due to expenses from your other income.


The author of the article is described as a "free lance writer".   I don't think he's a CPA.

--Dunbar

---In vpFREE@yahoogroups.com, <irdd@...> wrote :

here's a link to your article...

  

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