Thinking of going to a casino or placing a sports bet in 2026? It may increase your tax bill
A new tax law goes into effect on Thursday that is likely to have massive ramifications for gamblers.Starting on Jan. 1, 2026, only 90% of gambling losses will be able to be deducted on taxes at the end of each year.Meanwhile, 100% of winnings will still be taxed as income, meaning that even if you…

