PHANTOM INCOME CALCULATOR

See roughly how the 90% loss-deduction rule affects your taxable gambling income.

Your totals

Total gross winnings

Total gross losses

Deductible losses (90% cap, limited to winnings)$90,000

Taxable gambling income$10,000

Of which is "phantom" income from the 10% haircut$10,000

This is an estimate for a single-year federal calculation only — automated bookkeeping, not tax advice. Talk to a CPA before filing.