Gambling losses may be deducted to the extent of the taxpayer's gambling winnings.Such losses are subject to the 2% floor for miscellaneous itemized deductions.

Name: Gambling losses may be deducted to the extent of the taxpayer's gambling winnings.Such losses are subject to the 2% floor for miscellaneous itemized deductions.
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Gambling losses can be deducted up to the amount of gambling winnings, but they are not subject to the 2% floor for miscellaneous itemized deductions.

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