Deduction For Kan. Gambling Losses Bites Dust
Associated Press - July 28, 2013 7:45 pm
Kansas gamblers will still be able to deduct part of their losses on their income tax forms this year, but starting next year that deduction is gone.
Amid haggling over income and sales tax rates, doing away with the little-used gambling deduction was a popular idea among lawmakers during their session earlier this year.
The Topeka Capital Journal (http://bit.ly/1byf7Jh) reports the bill that included gambling losses cut most deductions by 30 percent for the 2013 calendar year.
Starting in 2014 items like the home mortgage deduction will be gradually stepped down to 50 percent by 2018, but the gambling loss deduction is being wiped out completely.
No lawmakers stepped forward to defend the gambling deduction, and there has been little public opposition to the move.