Like the title says, from the filing process and tax questions to tax policy and reform, you can search and share All Things Tax here. This is the place to find answers to all your general questions that don't fall under the other categories. And just a reminder: questions about software or online filing should be posted in DIY Products.
04-16-2018 01:56 PM
When you say, "my return went down" I am guessing you mean your REFUND went down by $4600. The return is what
you file. So, when you enter your gambling winnings your income goes up and the tax you owe goes up. When you enter
you gambling losses that goes on Schedule A, itemized deductions. IF you are not itemizing but instead taking the standard
deduction for you filing status, it then makes sense your refund would go down.
That is one possibility as to, why.