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Claim the deduction on Form 1040 Report your net gambling winnings or losses on Schedule A, Itemized Deductions, of your Form 1040.
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Gambling in Diwali is deeply rooted in the festivals mythology.
A Comprehensive OverviewWhile gambling is a popular pastime across the globe, its legality varies greatly from country to country.
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However, the application of this provision is often convoluted due to its interaction with Section 48 of the Public Gambling Act, 1867.
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