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Congress·In Committee·about 2 months ago

Tax Deductions for Gambling Losses

Also known as: Facilitating Useful Loss Limitations to Help Our Unique Service Economy (FULL HOUSE) Act

Legislative Progress

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Key Points

  • Congress is considering a change to tax laws that would expand what counts as a gambling loss. Currently, you can only deduct the money you lost on bets up to the amount of your winnings. This bill would allow you to also deduct other costs, like travel or meals, that you paid for while gambling.
  • This change would help people who gamble frequently by letting them use more of their expenses to lower the taxes they owe on their winnings. It essentially treats these extra costs the same as the money lost on a bad bet.
  • The proposal is intended to help the service economy, which includes casinos and the tourism industry. By making it cheaper for people to gamble from a tax perspective, it could encourage more spending in those areas.
  • If this bill becomes law, the new rules would take effect for the 2026 tax year. It would apply to anyone who files federal taxes and reports income from wagering or gambling activities.

Milestones

2 milestones2 actions
Jan 8, 2026House

Referred to the House Committee on Ways and Means.

Jan 8, 2026

Introduced in House

Source Information

Document Type

Congressional Bill

Official Title

Facilitating Useful Loss Limitations to Help Our Unique Service Economy (FULL HOUSE) Act

Bill NumberHR 6985
Congress119th Congress
ChamberHouse of Representatives
Latest ActionReferred to the House Committee on Ways and Means.

Sponsor

Cosponsors

(5)
D: 3R: 2

Analysis generated by AI. While we strive for accuracy, this should not be considered legal or professional advice. Always verify information with official government sources.