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Digest
Ask the Times
By TIMES WIRES
Published March 10, 2007
If a portion of the sale of lottery tickets goes to fund education, why aren't our losing tickets worth a tax deduction for the contribution? Noreen G. You can only deduct gambling losses to the extent of your gambling winnings. In other words, you get to reduce your taxable income by some of your losses, but you have to have taxable income - from gambling. Compiled from Times staff and wires. To submit a question, e-mail answers@tampabay.com or call 727 893-8179, toll-free 1-800-333-7505, ex. 8179.
[Last modified March 10, 2007, 02:19:39]
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