obbba 90% gambling loss deduction cap is live in 2026 - anyone who actually files properly how bad is this actually hitting you

pokerslave55 said:
so practicaly keep every single piece of documentation for 2026. session logs, withdrawal records, screenshots of win/loss statements from every book. because the 10% of losses you can't deduct at least needs to be clearly established or the IRS just sees gross winnings with no offsetting losses at all
the record keeping requirement went up while the deduction went down. both directions worse for the player
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shit too much hassle afm
 
pokerslave55 said:
so practicaly keep every single piece of documentation for 2026. session logs, withdrawal records, screenshots of win/loss statements from every book. because the 10% of losses you can't deduct at least needs to be clearly established or the IRS just sees gross winnings with no offsetting losses at all
the record keeping requirement went up while the deduction went down. both directions worse for the player
Click to expand...
yeah, documentation burden didn't change but the stakes for accurate documentation increased. every un-documented session is now more expensive than it was in 2025
 
Tiger_Yo! said:
shit too much hassle afm
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💯% downloading every single statement from every single book i've ever touched going back to jan 1 is a nightmare pal. some of these books make this ridiculously hard. DraftKings W2G portal works. BetMGM is a nightmare. FanDuel okay. a couple of smaller books where i have accounts basically have no documentation exports at all. the IRS expects me to document everything and these operators make it as difficult as possible to actually do that
 
Timmy said:
this is why i prefer crypto gambling sites ngl the irs cant do anything about what they cant see 🙃
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oh i don't know bud, sounds like it cause you more trouble that way...
 
I agree that's not accurate and is not advice anyone should follow.
 
government adds gambling provision to budget bill for accounting reasons. provision stays because removing it costs money. gamblers absorb cost. process works as designed 😑
 
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