Buying losing tickets online will get you into tax trouble

losing lottery tickets tax writeoff
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Gambling losses are only deductible up to the amount of your gambling winnings You can never show a gambling loss more than winnings for tax purposes Gambling

To claim a winning ticket with a value larger than $600, you must present proof of your Social Security number or Federal Tax ID number and a photo ID to prove

losing lottery tickets The signing of Senate Bill 764 means that gambling losses can be deducted from a Michigan tax return This brings the state's tax laws in line

losing lottery tickets second chance First, you cannot deduct them without claiming any winnings For tax purposes, you can only deduct losses up to the amount of your winnings