Rep. Titus Applauds Inclusion of Gambling Loss Deduction in Tax Package
Rep. Dina Titus welcomes the inclusion of her plan to restore a 100% gambling loss tax deduction in a House tax package.Summary
Representative Dina Titus (D-NV) has announced that her plan to restore a full tax deduction for gambling losses is included in a tax package under consideration by the House Ways and Means Committee. Titus has pushed for this change since former President Donald Trump's "One Big Beautiful Act" (OBBA) reduced the allowable deduction for professional gamblers from 100% to 90% of losses. Her standalone bill, the FAIR BET Act, failed to gain traction, and an attempt to attach it to the National Defense Authorization Act was unsuccessful. The new tax package, which also considers the Digital Asset Tax Certainty Act, includes provisions similar to both her bill and Senator Catherine Cortez Masto's FULL HOUSE Act, aiming to allow professionals to deduct 100% of gambling losses as long as they do not exceed winnings.
(Source：Sports Betting Dime)