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2. Which of the following statements about the tax consequences of gambling is true? A. Gambling winnings are not taxable, and gambling losses are not

2. Which of the following statements about the tax consequences of gambling is true? A. Gambling winnings are not taxable, and gambling losses are not deductible. B. Gambling losses are deductible as miscellaneous itemized deductions only to the extent of gambling winnings. C. Gambling losses are deductible as itemized deductions only to the extent of gambling winnings. D. Gambling winnings are taxable. but gambling losses are not deductible

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