Gambling losses on north carolina return

gambling losses on north carolina return

Do I need to file a North Carolina Individual Income Tax Return? or is derived from gambling activities in this State AND your total income for the taxable year.
CPA, Professor, Dept of Accounting, North Carolina State University, Raleigh, NC However, if you claim the standard deduction on your tax return Your deductible gambling losses are limited to the gambling winnings.
I live in North Carolina and had gambling winnings in another state? Do I have to pay North Carolina Taxes on those winnings even if I had matching losses? IF you file a nonresident return with the other state, NC will allow a credit for taxes.
gambling losses on north carolina return If you've been affected by a natural disaster, please call our office. Have a income tax question? To continue your participation in TurboTax AnswerXchange:. You must complete a federal return and attach it to your North Carolina income. All of the items below are for information only and are not meant as tax advice. The terms of a living trust, however, need not be made public. The IRS defines a hobby as an activity that is not pursued for profit.