ACC 613 Grand Canyon Week 2 Discussion 2

ACC 613 Grand Canyon Week 2 Discussion 2

Gambling losses are miscellaneous deductions not subject to the AGI floor. Explain why this is the case. Is there a social purpose to not limiting gambling loss deductions? Discuss the fact that gambling losses are not limited to the AGI floor but unreimbursed employee business expenses are. Include references to any tax code or publications that you use for your answer.

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