Line 29: Gambling losses

Enter your gambling losses.

For federal income tax purposes, the itemized deduction rules for calculating gambling losses have changed from what was allowed as a deduction for tax year 2017. Your New York itemized deduction allowed for gambling losses on line 29 is calculated using the federal rules that applied to tax year 2017.

If you filed federal Form 1040NR, U.S. Nonresident Alien Income Tax Return, you cannot claim a New York itemized deduction for gambling losses.

For purposes of calculating your New York itemized deduction you:

cannot deduct gambling losses that are more than your winnings for the tax year,

cannot reduce your gambling winnings by your gambling losses and report the difference, and

must report the full amount of your winnings as income on Form IT-201 or IT-203, line 16, and claim your losses (only up to the amount of winnings) as an itemized deduction.

Diary of winnings and losses: You must keep an accurate diary or similar record of your losses and winnings. Your diary should contain at least the following information:

the date and type of your specific wager or wagering activity

the name and address or location of the gambling establishment

the names of other persons present with you at the gambling establishment

the amounts you won or lost

Proof of winnings and losses: In addition to your diary, you should also have other documentation. You can generally prove your winnings and losses through:

federal Form W-2G, Certain Gambling Winnings; federal Form 5754, Statement by Person(s) Receiving Gambling Winnings; wagering tickets; canceled checks; substitute checks; credit records; bank withdrawals; and statements of actual winnings or payment slips provided to you by the gambling establishment.

For specific wagering transactions, you can use the following items to support your winnings and losses:

Keno: Copies of the keno tickets you purchased that were validated by the gambling establishment, copies of your casino credit records, and copies of your casino check cashing records.

Slot machines: A record of the machine number and all winnings by date and time the machine was played.

Table games (twenty-one (blackjack), craps, poker, baccarat, roulette, wheel of fortune, and so on) : The number of the table at which you were playing, or casino credit card data indicating whether the credit was issued in the pit or at the cashier’s cage.

Bingo: A record of the number of games played, cost of tickets purchased, and amounts collected on winning tickets. Supplemental records include any receipts from the casino, parlor, and so on.

Racing (horse, harness, dog, and so on): A record of the races, amounts of wagers, amounts collected on winning tickets, and amounts lost on losing tickets. Supplemental records include unredeemed tickets and payment records from the racetrack.

Lotteries: A record of ticket purchases, dates, winnings, and losses. Supplemental records include unredeemed tickets, payment slips, and winnings statements.

These recordkeeping suggestions are intended as general guidelines to help you establish your winnings and losses. They are not all-inclusive. Your tax liability depends on your particular facts and circumstances.