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.
You can deduct your gambling losses, but there are some catches: You can deduct only as much as you won, not more. So if you lose $1000 playing slots, and then win a $400 keno jackpot, you can deduct only your $400 loss. You'll pay taxes on $600 of income. You can't carry over losses from one year to the next.