Are gambling losses deductible on federal tax

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Texas residents with significant earnings from gambling are usually subject to a 24% flat rate tax on winnings. The amount of gambling tax in Texas that you owe will largely depend on if you are above a certain winnings threshold.

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Use our Gambling Tax Calculator Texas to figure out how much you might owe from gambling in Texas. Luckily, we've made calculating your taxes on gambling in Texas easy.

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