close
    1. Home
      2. ›
    2. Business & Finance
      3. ›
    3. Taxes
      4. ›
    4. If gambling losses are higher than gambling winnings do the winnings have to be counted as income?
    If gambling losses are higher than gambling winnings do the winnings have to be counted as income?

    Answer this
    0  Views: 933 Answers: 3 Posted: 14 years ago
    Comment this question

      3 Answers

      Not in Canada. Same goes for lottery winnings.

      14 years ago. Rating: 3
      Comment this answer

        Gamble winings are alsways taxable.Talk to your tax Adviser about how much you have to win before you count it on your taxs.Good Luck and Have a great day!!!!!!!!

        14 years ago. Rating: 3
        Comment this answer

          Yes!

          14 years ago. Rating: 2
          Comment this answer



            Did this answer your question? If not, then ask a new question.

            Top contributors in Taxes category

             
            Ducky
            Answers: 4 / Questions: 0
            Karma: 240
             
            Colleen
            Answers: 12 / Questions: 0
            Karma: 180
             
            Benthere
            Answers: 0 / Questions: 0
            Karma: 120
             
            jhharlan
            Answers: 2 / Questions: 0
            Karma: 90
            > Top contributors chart

            Unanswered Questions

            socolive
            Answers: 0 Views: 8 Rating: 0
            socolive
            Answers: 0 Views: 7 Rating: 0
            go88aspace2
            Answers: 0 Views: 12 Rating: 0
            jlff1ph
            Answers: 0 Views: 14 Rating: 0
            beaslondonceo
            Answers: 0 Views: 15 Rating: 0
            77AG
            Answers: 0 Views: 13 Rating: 0
            Taixiuonline11comvn
            Answers: 0 Views: 15 Rating: 0
            Quang luu
            Answers: 0 Views: 16 Rating: 0
            > More questions...
            560102
            questions
            779165
            answers
            921504
            users