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Miscellaneous Tax Deductions

There are some expenses listed as other miscellaneous tax deductions which are fully deductible and are reported on line 28 of Schedule A. These other miscellaneous tax deductions include the following:

  • Gambling losses up to the amount of gambling winnings

     

  • Impairment related work expenses of persons with disabilities

     

  • Repayments of more than $3,000 under a claim of right
 
Gambling Losses Itemized Deductions

What records do I need to deduct gambling losses?

It is important to keep an accurate diary or similar record of your gambling winnings and losses. To deduct your gambling losses, you must be able to provide receipts, tickets, statements or other records that show the amount of both your winnings and losses.

How much gambling losses can I deduct?

You cannot deduct gambling losses that are more than your gambling winnings.

How to report and claim tax deduction for gambling losses?

 

Miscellaneous Tax Deductions

You cannot reduce your gambling winnings by your gambling losses and report the difference. You must report the full amount of your winnings as income and claim your losses (up to the amount of winnings) as an itemized deduction.


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