Learn languages naturally with fresh, real content!

tap to translate recording

Explore By Region

flag New 2026 federal gambling rules limit tax loss deductions to 90% of winnings, affecting all gambling except prediction markets.

flag Starting Jan. 1, 2026, federal gambling tax rules changed: the threshold for slot machine hand pay forms rose to $2,000, and gambling losses can now only offset 90% of winnings. flag This means even break-even gamblers owe taxes on 10% of their winnings. flag The rule applies to all gambling, including sports betting, but not prediction markets. flag Industry leaders warn it may reduce legal betting and push gamblers to offshore sites. flag Lawmakers in Nevada are pushing to restore full loss deductions, but no fix has been enacted.

3 Articles