An obscure provision in Donald Trump's 'big, beautiful bill' reduces the amount gamblers can deduct from taxes for betting ...

The battle over the gambling tax provision in the Big Beautiful Bill is far from over. The One Big Beautiful Bill Act (OBBBA) ...

President Donald Trump's tax bill, signed into law July 4, reduces how many losses a gambler can deduct. Here's how the ...

Until now, someone who won $100,000 in a year and also had losses of $100,000 would pay no taxes on their gambling activity. For professional high-stakes gamblers, this made wagering worthwhile ...

Bettors can still deduct losses from wins within a single session of play. But the Internal Revenue Service ( irs) is ...

There are new laws regarding gambiling losses. Previously players could deduct those losses from their winnings with the IRS, ...

A small provision added to President Donald Trump’s “One Big Beautiful Bill Act” — that came to light days before the ...

The Fair Bet Act, introduced by Representative Dina Titus (D), hopes to restore the 100% deduction for gambling losses.

The provision tucked into the “Big Beautiful Bill” limits tax deductions for gambling losses, while still requiring ...

Mike Florio takes a deep dive into why there in bipartisan effort to change the language of the gambling portion of the big, ...

Under the new law, gamblers will be allowed to deduct just 90% of their losses from their income taxes starting in 2026.