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The new prescribed way for handling gambling earnings and you may losings grows AGI (even if the taxable income remains unchanged). This will limit particular taxpayers’ most other write-offs, as well as medical and you can miscellaneous itemized write-offs. Eventually, playing loss can be, in a few issues, trigger the newest feared Choice Minimum Tax (AMT). The fresh recognition of money are an extended-felt like idea in the usa according to the notion of Useful Bill of cash. Disregarding (for now) the newest legality away from Web sites gaming, this can be along with untrue.

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