Are gambling losses an allowable subtraction?

Are lottery tickets tax-deductible? Yes IRS rules for gambling losses apply to lottery tickets The cost of those tickets can be taken as

Lottery winnings Loss under the head 'Capital Gains' She has donated # 5,000 to Jawaharlal Nehru Memorial Fund by cheque Find out the amount of tax

are gas station slot machines legal If non-cash prizes in a lottery, raffle, sweepstake or prize competition are purchased by the supplier, then an input tax deduction may be available for any GST

are poker chips magnetic If you sell or otherwise dispose of an asset that was a prize from a lottery, you must declare any capital gains you make in your tax return You must declare