Louisiana made its way back into the French Empire through a Treaty of San Ildefonso with Spain in 1800.
The following rules apply to casual gamblers. Gambling winnings are fully taxable and you must report them on your tax return. Gambling income includes but is not limited to winnings from lotteries, raffles, horse races, and casinos.It includes cash winnings and the fair market value of prizes such as cars and trips.owever, the amount of losses you deduct may not be more than the amount of gambling income reported on your return. Claim your gambling losses on Form 1040, Schedule A (PDF) as an Other Miscellaneous Deduction (line 28) that is not subject to the 2% limit.
Report your total gambling winnings in Other Income on Line 21 of your tax return Form 1040. You cannot use any other personal income tax returns, such as Form 1040EZ, to report winnings from gambling.Deduct the amount of your gambling losses as an itemized deduction on Schedule A of Form 1040.You cannot subtract your losses from your winnings and report the net difference in income.eport your total gambling winnings in Other Income on Line 21 of your tax return Form 1040. You cannot use any other personal income tax returns, such as Form 1040EZ, to report winnings from gambling.