House committee advances gambling-loss deduction restoration before 2027
The House Ways and Means Committee advanced a measure to restore the full federal deduction for gambling losses, Rep. Dina Titus said. The proposal was attached to H.R. 10357 and would reverse the 90% cap scheduled to take effect on 1 January 2027; House and Senate approval and the president’s signature would still be required.
The proposed change would affect the federal tax treatment of gambling losses for operators’ customers.