Fair Accounting for Income Realized from Betting Earnings Taxation Act

This bill would change a federal tax rule about gambling losses. Under current law as amended, people who itemize can deduct 90 percent of their gambling losses against their gambling winnings. The bill would change that figure to 100 percent, so the full amount of gambling losses could be deducted, up to the amount of gambling winnings.

Full text and official record on Congress.gov

Sponsors

• Dina Titus Democrat sponsor
• 25 cosponsors