- Vesuvius -. Naples is the capital city of the Campania region and the Province of Naples. Its metropolitan area is the second most populated in Italy and one of the largest in Europe. It is located halfway between the volcano, Vesuvius and a separate volcanic area, the Campi Flegrei.
You report gambling winnings as other income on line 21 of Form 1040, but you must itemize to deduct losing bets. If you have few other expenses to claim on Schedule A, it probably won't be worth sacrificing your standard deduction amount just to limit or erase your taxable winnings. Do the math to make sure.
You may only deduct gambling losses if you itemize the rest of your return. You must use Form 1040 for your return, not 1040EZ or 1040A. Report gambling winnings on Line 21 of Form 1040 and the gambling losses on Line 28 of Schedule A on the 1040.If you are audited, you will need to provide proof of the losses in the form of receipts, tickets, statements or other records.ubtract the total of the losses from the total of the winnings to reduce your taxable liability. You can only deduct your losses up to the amount of your winnings. If you won $5,000 and lost $6,000, you may only claim the $5,000 in losses, which zeros out your liability.