Crypto Tax Bill Could Restore Full Gambling-Loss Deduction
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The House Ways and Means Committee advanced a bipartisan crypto tax bill that includes a reversal of the gambling-loss deduction limit enacted in the One Big Beautiful Bill. Punchbowl News reported that the measure would restore the full deduction for gambling losses after the earlier law reduced the amount gamblers could report against winnings from 100% to 90%.
The committee action gives the proposal a legislative vehicle, but it does not settle the issue. Punchbowl’s related coverage say
The House Ways and Means Committee advanced a bipartisan crypto tax bill that includes a reversal of the gambling-loss deduction limit enacted in the One Big Beautiful Bill. Punchbowl News reported that the measure would restore the full deduction for gambling losses after the earlier law reduced the amount gamblers could report against winnings from 100% to 90%.
The committee action gives the proposal a legislative vehicle, but it does not settle the issue. Punchbowl’s related coverage say
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