Deduction of gambling loss as a medical expense

I imagine if their doctor prescribed them to make the bet. Otherwise it's over the counter.

Good try. Unfortunately it would be subject (where gambling is not legal) to the in pari delicto argument. It says that if your loss was incurred as a result of engaging in illegal conduct, you're out of luck. In states where gambling is legal, you might well get away with it - subject to the theft loss floor. Stu

Who owns the Cubs nowadays? Depending on the answer to that question, a delusional (and/or delirious) person could plausibly argue that the Cubs' woes have been subsumed into the global Zionist-Free Masons conspiracy. Medical expenses are only deductible to the extent they exceed 7.5% of AGI. And I believe fraud losses fall within the gambit (no pun intended) of casualty losses, which must exceed 10% of AGI. Gambling losses on the other hand are deductible without regard to any AGI limitations (of course one must itemize). So as long you show gambling winnings from some source, your ill advised bets on the Cubs are fully deductible on Schedule A as miscellaneous itemized deductions not subject to the 2% of AGI floor. Condor

God will get you for that, Dick Adams!

ChEAr$, Harlan

p.s. - there's always next year.

God has already gotten me, allowed me to be born on the Superior South Side of Chicago, and told me to move to the the Promised Land of North Carolina where on the seventh day God went to rest - all of this was tax-free.