Re(1): Ok so which is it? Take 90%0 of LOSSES? Or offset 90%0 of WINS?

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Chalk Talk Terms of Service Re(1): Ok so which is it? Take 90% of LOSSES? Or offset 90% of WINS?
Posted on July 13, 2025 at 12:36:37 PM by Tiger

Winnings (100%) are reportable income in all cases.

Deduction amount = 90% of (losses + expenses), but only to the extent of winnings.


  	  	90% of	Max		

Wins	Losses	Losses	Deduct	Net	Taxable

100	50	45	45	55	55

100	100	90	90	10	10

100	111.11	100	100	0	0

100	150	135	100	-50	100

100	200	180	100	-100	100

100	300	270	100	-200	100

(Simplified, w/o expenses)

So, it's those last cases where they're really getting hosed, i.e., lose more, pay more tax.

I'm assuming that's an unintetional blunder, but, who knows?

Replies:

Re(2): Ok so which is it? Take 90% of LOSSES? Or offset 90% of WINS? - By Bennett July 13, 2025 at 12:47:52 PM
- Re(3): Ok so which is it? Take 90% of LOSSES? Or offset 90% of WINS? - By Tiger July 13, 2025 at 01:11:47 PM
  - Re(4): Ok so which is it? Take 90% of LOSSES? Or offset 90% of WINS? - By William July 14, 2025 at 02:57:37 PM
    - Re(5): Ok so which is it? Take 90% of LOSSES? Or offset 90% of WINS? - By Tiger July 14, 2025 at 04:08:21 PM
      - Re(6): Ok so which is it? Take 90% of LOSSES? Or offset 90% of WINS? - By zjaialai56 July 26, 2025 at 02:25:54 PM

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