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Navigating Tax Implications for Online Gambling Winnings

On november 13, 2024november 14, 2024by

Understanding Taxable Income from Gambling Winnings Gambling winnings are considered taxable income by the Internal Revenue Service (IRS) in the United States. This includes all income from gambling activities, whether it is from poker, sports betting, lottery winnings, or casino games. It is essential for gamblers to understand what constitutes taxable gambling income to ensure...