How Much Money Can You Win Gambling Tax-Free?

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In the United States, gambling winnings are generally considered taxable income, but the amount you can win tax-free depends on your total earnings and deductions. If your gambling winnings are less than your losses, you can offset them, potentially resulting in no taxable income. However, if you win a substantial amount, such as a jackpot, the IRS requires you to report it, regardless of your losses. Always consult a tax professional for personalized advice, as tax laws can vary by state and individual circumstances.

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