Estimate the gambling-loss deduction limited by entered gambling winnings and tax assumptions.
2026 90% Limitation Rule (IRC § 165(d)) vs Pre-2026 100% Cap
Estimated extra tax cost: $960 at your 24% rate
Income you are taxed on in 2026 despite not actually pocketing a profit!
Under the 2025 (100%) rule you could deduct $40,000 and be taxed on $0. Under the 2026 (90%) rule you deduct $36,000, leaving $4,000 taxable — creating an extra $4,000 in phantom taxable income ($960 in extra tax at your 24% bracket).
Disclaimer: This tool provides informational results only and should not be used as professional advice.
The Gambling Loss Deduction Calculator estimates a deductible gambling loss limited by entered gambling winnings.
Generally, the deduction is limited by gambling winnings under the model; verify current tax rules and itemization requirements.
No. It estimates a deduction amount only.
Keep complete records and verify the current tax-year rules with official guidance or a tax professional.
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