08/14/2026
π° Gambling in 2026? The IRS changed the game.
Under the new rules, gambling losses may not fully offset gambling winnings the way many taxpayers expect.
That means you could break even from gambling β but still end up with taxable income on your return.
This βphantom incomeβ issue could surprise sports bettors, casino players, lottery winners, and anyone who gambles regularly.
If you gamble, make sure you keep detailed records of your wins, losses, W-2G forms, betting app statements, and receipts.
π² Read the article below to learn what gamblers need to know before tax time.