26 C.F.R. § 1.165-10. - § 1.165-10 Wagering Losses.

Current as of January 1, 1970

Section 1.165-10 - § 1.165-10 Wagering Losses.Section 1.165-10 - § 1.165-10 Wagering Losses.

Section 1.165-9 - § 1.165-9 Sale of Residential Property.Section 1.165-11 - § 1.165-11 Election to Take Disaster Loss Deduction for Preceding Year.

§ 1.165-10 Wagering losses.

Losses sustained during the taxable year on wagering transactions shall be allowed as a deduction but only to the extent of the gains during the taxable year from such transactions. In the case of a husband and wife making a joint return for the taxable year, the combined losses of the spouses from wagering transactions shall be allowed to the extent of the combined gains of the spouses from wagering transactions.

Disclaimer. This may not be the most current version of this information. Users should consult official sources to verify information on this site is recent and current. Marble does not warrant or represent the accuracy, completeness or reliability of the information contained on this site.