1 In 2012, Carson was the Influential Marylander Award recipient from The Daily Record, Baltimore's legal and business newspaper. 2  In 2014, a poll of Americans conducted by Gallup ranked Carson sixth on a list of the most admired men in the world. 3  He is an emeritus fellow of the Yale Corporation.
Your gambling winnings are generally subject to a flat 25% tax. However, for the following sources listed below, gambling winnings over $5,000 are subject to income tax withholding: Any sweepstakes, wagering pool (including payments made to winnners of poker tournaments), or lottery.epending upon the amount of your winnings and the type of gambling, the establishment or payer may be required to withhold income taxes. In general, 25% of the amount is required to be withheld. In some cases, a backup withholding of 28% is required instead.
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.