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i won last year... what will my tax return look like?

Topic closed. 16 replies. Last post 5 years ago by James1.

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Thread Starter
New Member
jacksonville, florida
United States
Member #121524
January 11, 2012
7 Posts
Posted: April 16, 2012, 7:56 pm - IP Logged

If you have 97K in losers you will get it all back. There is no cap on the amount written off by loses. Under Federal tax this is considered uncommon or other income.

97k in losers? you might have misread... i WON 97k... they with held almost 25k and i actually got 72k... i have 3.4k in losers

    James1's avatar - 5599078405 12a562a9e7_t.jpg
    United States
    Member #104435
    January 14, 2011
    2247 Posts
    Posted: April 16, 2012, 8:36 pm - IP Logged

    If you come up with 97K in losses you will get a full 25k return. I know people at the race track do this. If this is the info you were looking for...

    2014 Highest Winner: $500