In each of the following independent cases, indicate the amount (1) deductible for AGI, (2) deductible from AGI, and (3) deductible neither for nor from AGI before considering income limitations or the standard deduction. (Leave no answer blank. Enter zero if applicable.)
f. Wayne lost $325 on the bets he made at the race
track, but he won $57 playing slot machines.
ANSWER
F)
Deductible for AGI | 0 |
Deductible from AGI | 57 |
Not Deductible(325 - 57) | 268 |
Because ,loss on bet of $610 will be offset against the won among of $174.
therefore,resr will be 'Non Deductible'.
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