Free tool

Gambling loss calculator

Gambling losses are only deductible up to your winnings, and from tax year 2026, only 90% of them count. Enter your totals to see how much of your losses you can actually deduct, and how much taxable income is left.

Enter the year's totals
Deductible losses (90% limit, capped at winnings)$90,000
Taxable gambling income$10,000
Of which is phantom income (the 10% of losses no longer deductible)$10,000

An estimate for a single-year federal calculation only — automated bookkeeping, not tax advice. A licensed CPA should review before filing.

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The totals above are only as good as the documents behind them. W2gMatch reads your W-2Gs, win/loss statements and IRS transcript and ties them together.

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