DEFINITION of 'Invoice'. A commercial document that itemizes a transaction between a buyer and a seller. An invoice will usually include the quantity of purchase, price of goods and/or services, date, parties involved, unique invoice number, and tax information.If goods or services were purchased on credit, the invoice will usually specify the terms of the deal, and provide information on the available methods of payment.n invoice will usually include the quantity of purchase, price of goods and/or services, date, parties involved, unique invoice number, and tax information.
Gambling losses are deducted on Schedule A as a miscellaneous deduction and are not subject to a 2% limit. This means that you can deduct all losses up to the amount of your winnings, not just the amount over 2% of your adjusted gross income.
Gambling and lottery winnings consist of gains. arising from gambling and lotteries. In calculating gains, the taxpayer may deduct gambling. and lottery losses (cost of tickets), other than losses incurred in the Pennsylvania lottery on or. after July 21, 1983, but may not deduct the costs and expenses incurred in connection with. the gambling and lottery activity.