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Definition of 'Gambling Income'
Any income that is the result of games of chance or wagers on events with uncertain outcomes (gambling). This income is subject to taxation.
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Investopedia explains 'Gambling Income'
Gambling income includes any money earned playing slot machines, bingo or the lottery. It also includes money derived from betting on horse races, boxing, sumo wrestlers and almost anything else.
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A short article on how the IRS addresses gambling income and losses.
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Investing on Wall Street and gambling on The Strip are not as different as they may seem.
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The popularity of the penny stock market has grown, but are these stocks a safe bet?
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