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New Jersey Net Gambling Winnings

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New Jersey Net Gambling Winnings


Net Gambling Winnings


Enter your net gambling winnings. You can subtract gambling or lottery losses from your winnings that occur in the same year. If the net amount is zero or less, make no entry. If you net gambling winnings with gambling losses, include a statement to that effect.


Common types of gambling winnings include:


All casino and track betting


New Jersey Lottery winnings (only individual prizes exceeding $10,000)


Any multistate lottery in which New Jersey participates (Mega Millions, Powerball), but only individual prizes exceeding $10,000


All out-of-state lottery winnings regardless of amount


If you net gambling winnings with gambling losses, you may be required to substantiate the losses used to offset your winnings.


Acceptable proof of losses includes:


Casino win/loss statements


Daily log or journal of wins and losses


Canceled checks


Losing racetrack pari-mutuel tickets


Losing lottery tickets


For more information, see Technical Bulletin TB-20(R).


Part-Year Residents. Include only amounts you received while you were a resident of New Jersey.


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Views: 1499 Created on: Jun 15, 2013
Date updated: Jan 10, 2019
Posted in: States, New Jersey

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