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Call (866) 681-2140
Call (866) 681-2140
If you won at a casino, a poker table or on a betting app, a gambling CPA reports your winnings and claims every loss you can still deduct in 2026.
Call (866) 681-2140
We reconcile every W-2G and app statement with your own records.
We apply the 90% loss limit for 2026 and show you its cost before you file.
We give you a fixed quote before we start and reply within 24 hours once you are a client.
We report winnings from W-2Gs, casino win-loss statements and betting app histories, then claim losses on Schedule A if you itemize.
We plan around a large win before the year ends, including withholding and whether you save more by itemizing.
If you owe more than was withheld, we set estimated payments that reduce your underpayment risk.
We file Schedule C for poker players and sports bettors who gamble as a business.
We answer IRS letters about unreported winnings and represent you if the IRS examines your losses.
Under the One Big Beautiful Bill Act, you can deduct only 90% of your gambling losses starting in 2026, and never more than your winnings.
If you gamble casually, you report all winnings on Schedule 1 and deduct losses only if you itemize on Schedule A. You can't subtract losses from winnings and report the difference, per IRS Publication 529.
Say you won $40,000 and lost $40,000 in a year at casinos and on betting apps, filing as single with no other gambling activity:
| Year and deduction | Losses deducted | Winnings after loss deduction |
|---|---|---|
| 2025, itemizing | $40,000 | $0 |
| 2026, itemizing | $36,000 | $4,000 |
| 2026, standard deduction | $0 | $40,000 |
If you break even in 2026 and itemize, you may still owe tax because you can't deduct 10% of your losses. We check whether you save more by itemizing and set withholding or estimates to cover the gap. Your state may allow no deduction for losses; we check its rule with the federal return.
Winnings left after loss deductions
$40,000 won and $40,000 lost in the same year.
All $40,000 of losses deducted.
Losses deducted at 90%: $36,000.
No itemized deduction for losses.
Assumes a single filer with no other gambling activity.
Source: One Big Beautiful Bill Act, IRS Publication 529.
Send your W-2Gs and win-loss statements for a 2026 estimate before you file.
To deduct losses, you keep a diary of your gambling, per Publication 529. Record in each entry:
Back the diary with W-2Gs, wagering tickets, bank records and win-loss statements. We check your log against these before you file.
Casinos, lotteries and sportsbooks issue Form W-2G for reportable wins. For 2026, W-2G reporting starts at $2,000, per the IRS W-2G instructions. For sports bets, the payer reports only wins of at least 300 times the wager.
Payers withhold 24% on certain winnings over $5,000 after subtracting the wager, such as lottery prizes and sports bets paying at least 300 times the wager. You report every win, with or without a W-2G.
Nonresident aliens cannot deduct gambling losses, with an exception for residents of Canada under the tax treaty, per IRS Topic 419.
Anytime you have a major change in your situation, whether it's your family situation, whether it's your work, whether it's income or source of income, you want to speak with the tax adviser and make sure that everything that you're doing now continues to make sense in the future.
If gambling is your trade or business, you report it on Schedule C instead of Schedule A. You treat gambling expenses, such as travel, as losses, so you deduct only 90% of them too.
The IRS decides professional status on the facts of each case. If you qualify, you also pay self-employment tax on your net profit. We review your records with you before you claim the status.
Send your W-2Gs, casino win-loss statements, betting app histories and gambling log through our encrypted portal.
We price the work before we start, with no hourly billing.
One of our accountants for gamblers shows you the tax with and without itemizing, and how much extra you owe under the 2026 loss limit.
We file your federal and state returns and set withholding or estimates for next year.
We set a fixed fee from these factors:
The light end is one W-2G, one state return and the standard deduction. These are the factors, not a quote.
Send a short note on what you play, your win statements and the returns you file. A gambling CPA on our team replies with next steps and a fixed quote.
Or call (866) 681-2140.
