Gambling losses may be deducted to the extent of the taxpayer's gambling winnings.Such losses are not subject to the 2% floor for miscellaneous itemized deductions.

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According to IRS rules, gambling losses can be deducted up to the amount of the taxpayer's winnings, and this deduction is not subject to the 2% floor for miscellaneous itemized deductions.

Gambling Losses May Be Deducted to the Extent of the Taxpayer's