Articles

Gambling winnings, even when offset by losses, cost seniors more than you would think

This article, from The Wall Street Journal‘s “Market Watch”, shows how gambling winnings can cost seniors dearly when tax day comes. Even if they are balanced out by losses of the same amount, certain tax rates can skyrocket, leaving seniors to pay extra. Using a real example, the author shows just how much gambling can cost.

2013 Gambling tax hits SSA payouts — even when you lose

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