Can I deduct gambling losses from other years?

No. The deduction counts losses and gains during the same taxable year only (26 U.S.C. 165(d)). A losing 2025 does not reduce your 2026 winnings, and a losing 2026 does not carry forward.

And from 2026, only 90% of that year's losses count, capped by that year's winnings. You also need to itemize to use them (IRS Topic 419).

That makes each year's records important. Save your statements and betting history for every year you bet.

A calculator, not tax advice. Show this to your CPA. Compare both counting methods with your own totals.

Related questions

• Do I owe tax if I broke even betting?
• Should I itemize to deduct gambling losses?

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