Share |. Map showing location of Louisiana on the US map. As shown in the Louisiana location map that Louisiana is located in the southern part of United States. It bordered by the Texas in the west, Arkansas in the north, and in the eastern side Mississippi makes boundary with it. However, in the south Mexico Gulf makes coastline with it.
Gambling losses (to the extent of gambling gains) are deductible in computing. adjusted gross income insofar as they are attributable to a trade or business. (subject to the illegal activities limitation of Section 17297 of the Personal. Income Tax Law). Advice is requested as to whether gambling losses (to the extent of gambling. gains) are deductible in computing adjusted gross income or are only deductible. from adjusted gross income in computing net income.
A: Yes. Gambling winnings are generally taxable and must be reported your tax return. If you're a casual gambler, you'll generally report your gambling winnings as âother incomeâ on line 21 of IRS Form 1040. Other income includes winnings from lotteries, raffles, horse races and casinos. It also includes cash winnings and the fair market value of prizes, such as cars and trips.