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LSB Feature: What Sports Bettors Should Know This Tax Season

LSB Feature: What Sports Bettors Should Know This Tax Season

by Giovanni Shorter | Apr 3, 2021 11:31 am | Sports Betting

All sports betting wins are considered taxable income and should be claimed on sports bettors’ taxes. The Internal Revenue Service (IRS) requires taxes to be filed if players earn $600 or more. Sports betting fans are able to deduct losses, but only to the amount of...

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