U.S. House Panel Considers Restoring Full Gambling Loss Tax Deduction

House committee advances digital asset, EFIN and gambling tax bills

The House Ways and Means Committee held a markup session to consider the Digital Asset Tax Certainty Act, EFIN Verification Act and FULL HOUSE Act.

Full wagering-loss deduction clears House committee

A U.S. House committee advanced a measure Wednesday that would let horseplayers and other gamblers once again deduct 100% of their wagering losses, reversing a cap that took effect with the 2026 tax year. The House Ways and Means Committee, which handles federal tax legislation, approved the provision as part of H.R. 10357, the Digital Asset Tax Certainty Act. The bill now moves to the full House and would still need Senate passage and the presi…

Good News for U.S. Poker Players? Congress Moves to Restore Full Gambling Loss Deduction

The House Ways and Means Committee is meeting this week to consider legislation that could restore the full federal deduction for gambling losses, and poker players in the United States should pay attention. The provision, tucked into a broader package called the Digital Asset Tax Certainty Act (H.R. 10357), would eliminate the 90% cap on […]

Bill to Repeal 90% Cap on Gambling Losses Moves to Committee

LAS VEGAS – Gamblers and professional poker players rejoice; the fix to restore the 100% tax deduction on gambling losses passed out of the Ways and Means Committee on Wednesday by a 38 to 5 vote. While the measure won’t get a full House vote ... The post Bill to Repeal 90% Cap on Gambling Losses Moves to Committee first appeared on LegalSportsBetting.com.

U.S. House panel considers restoring full gambling loss tax deduction

The U.S. House Ways and Means Committee will consider legislation on Wednesday, that would restore a 100% federal tax deduction for gambling losses against gambling winnings. The proposal would eliminate the current 90% limitation on deductions for wagering losses and apply to taxable years beginning after Dec. 31, 2025, providing retroactive relief for 2026. The gambling provision has been added...

House Tax Panel Weighs Restoring Full Write-Off for Gambling Losses

A House Ways and Means Committee package includes a proposal to let gamblers deduct 100% of losses against winnings, reversing a 2025 cap.