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Evelyn enjoys gambling at the race track a few times a year. On one day in March she wins $2.500 on a race and includes
Evelyn enjoys gambling at the race track a few times a year. On one day in March she wins $2.500 on a race and includes that amount in her gross income. She has no other winnings during the year and loses $6,000 in total on other wagers during the year. If Evelyn itemizes deductions, how much of her gambling losses may she deduct?
Zero. | ||
$2,500. | ||
$3,500. | ||
$6,000. |
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