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.
other words, taxpayer may deduct all types of gambling losses, including those from playing the. New Jersey Lottery, from their total gambling winnings during the tax period not to exceed the. total of the winnings because gambling is a ânetâ category of income. All taxpayers may be required to substantiate gambling losses used to offset winnings reported. on their New Jersey gross income tax return.