Claiming losses

[gwhiz_612]

If I play online in a state where gambling is illegal is it possible to claim my gambling losses?

[Red_Diamond]

I suppose if you robbed a bank it is theorticaly possible to pay the IRS on the tax from the booty. But I think that sort of thing is unheard of.

[Sniper]

[ QUOTE ]
I suppose if you robbed a bank it is theorticaly possible to pay the IRS on the tax from the booty. But I think that sort of thing is unheard of.

[/ QUOTE ]

You are required to report illegal income to the IRS... this is not, however, the question that he asked...

[Gobgogbog]

[ QUOTE ]
I suppose if you robbed a bank it is theorticaly possible to pay the IRS on the tax from the booty. But I think that sort of thing is unheard of.

[/ QUOTE ]

Alright, but what do you do if you lose money robbing a bank?

[chigger]

find a new career /images/graemlins/smile.gif

[gwhiz_612]

So there is noone here that can answer this?

[alphatmw]

you are allowed to claim regular deductions from running an illegal business, but i don't think that applies here. i would venture to say that you can because you're filing a FEDERAL income tax return, and the law is a state law.