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ctindel t1_j35m0xi wrote

Reply to comment by SachaCuy in NY officially solicits bids for casino with license fee set at $500M by geoxol

You can write off losses up to the value of your winnings.

Letting organized crime make money on anything is fucking stupid for society. Regulate and tax, make sure the gambling is fair and properly run and money isn’t laundered.

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SachaCuy t1_j397gdd wrote

I think you should be able to write off losses vs other risk assets (i.e. stocks) but that's just me.

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ctindel t1_j398a8p wrote

Absolutely. But the tax code isn't written to help normal people, just businesses.

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