- 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.
ADJUSTED GROSS INCOME: GAMBLING LOSSES Syllabus: Gambling losses (to the extent of gambling gains) are deductible in computing adjusted gross income insofar as they are attributable to a trade or business (subject to the illegal activities limitation of Section 17297 of the Personal Income Tax Law). Advice is requested as to whether gambling losses (to the extent of gambling gains) are deductible in computing adjusted gross income or are only deductible from adjusted gross income in computing net income. Section 17072 of the Personal Income Tax Law defines adjusted gross income as meaning gross income minus specified deductions, among which are those