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You might be wondering how to file your taxes for your winnings. If so, we can help! We’ve got the information you need about what is taxable income and what isn’t. It’s important to know that not all gambling wins are subject to taxation. For example, if you play poker or bingo with friends for fun money, then those winnings are not taxed as gambling income. But if you’re playing in a tournament or betting on sporting events like horse racing, then these types of wins are considered taxable income and should be reported on your tax return.
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