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Originally Posted by Scav
You can write off the $1800 if it is larger then the standard deduction, which I think is $3200 this year.
What I would do is put all your information into Turbo Tax and go through the steps and let it plan it out for you. It is a very good tool.
--Accountant in training
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Really? I was under the impression I couldn't write off losses from gambling from winning a free contest. Of course last year wound up being the year I was actually up on the year so I can't claim losses anyways. Naturally I'll wind up with big losses this year and won't win any contests to write them off against.