Facilitating Useful Loss Limitations to Help Our Unique Service Economy (FULL HOUSE) Act reinstates rules for wagering losses.
The Facilitating Useful Loss Limitations to Help Our Unique Service Economy (FULL HOUSE) Act amends the Internal Revenue Code to reinstate rules for wagering losses. Specifically, it allows losses from wagering transactions only to the extent of the gains from such transactions. This change applies to taxable years beginning after December 31, 2025.
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