Lost money in your gambling journey? Should you report this to the IRS anyways? The answer may surprise you, find out now! Caveat: This video assumes that you do *not* qualify as a professional gambler for tax purposes. Do you have multiple years of back tax returns you need to get filed? Don't file *any* of them until you've had your FREE consultation with Choice Tax Relief! Schedule your consultation today by calling 866-8000-TAX or by going to choicetaxrelief.com/free-tax-consultation Table of Contents: 0:00 Net Loss - Should I Still Report Winnings and Itemize the Losses? 0:49 The IRS Does Not Know You Lost Money Unless You Tell Them About It! 1:32 The 1099-K Works the Same Way! 2:24 Your Gambling Winnings Can Always be Reported as Income! 3:20 Itemize Your Gambling Deductions! 4:20 Same States do Not Allow You to Deduct Your Gambling Losses! #LLC #Partnership #taxreturns