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New Tax Rule May Impact Gamblers' Financial Strategies in El Paso

KTSM••Jeremy Tanner
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A recently discovered tax provision in the massive federal legislation known as Trump's Big Beautiful Bill could significantly affect gamblers in El Paso. This provision restricts the ability of gamblers to deduct their losses against their winnings, meaning that even if they break even, they may still owe taxes on their winnings. This change could lead to unexpected financial consequences for local gamblers who are accustomed to offsetting their losses. Residents should be aware of this new tax implication when planning their gambling activities to avoid surprises during tax season.

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El Paso

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