The FULL HOUSE Act would change federal tax rules to limit deductions for gambling losses. Under this bill, people and businesses could only deduct gambling losses to the extent they have gambling winnings—meaning they cannot use gambling losses to offset other income for tax purposes. The legislation amends the Internal Revenue Code and affects anyone who gambles and reports those transactions on their taxes. The changes would take effect for tax years beginning after December 31, 2025. The bill was introduced by Senators Cortez Masto, Rosen, and Cruz in July 2025 and was referred to the Senate Finance Committee for consideration.
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