Professional gamblers · Self-assessment

What does the 90% cap change for you?

Starting in 2026, only 90% of wagering losses are deductible. You can finish a year even and still owe tax. It does not reach everyone, and where it does, how the year gets counted usually matters more than how you bet.

Ten questions · about two minutes · nothing is sent anywhere

State treatment is a separate analysis and is not addressed here. Several states limit or deny wagering loss deductions, which can produce meaningful state tax on a year that nets to nearly zero federally.

This assessment is informational only. It is not legal or tax advice, does not create an attorney-client relationship, and should not be relied upon in preparing a return or taking a reporting position. Please do not send confidential information before we have discussed whether I can represent you.