- 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 deduct gambling losses if you itemize your deductions. You can deduct your losses only up to the amount of your total gambling winnings. You must generally report your winnings and losses separately, rather than reporting a net amount.f you have gambling winnings, you must report them on Line 21 of Form 1040. You won't be able to use Form 1040EZ or 1040A. But you can use efile.com to prepare and efile your tax return with ease. The software walks you through the tax preparation process, helps you fill out the right forms, and checks for errors.