Deduction for Ks Gambling Losses Bites Dust
TOPEKA, Kan. (AP) - Kansas gamblers will still be able to deduct part of their losses on their income tax forms this year, but starting next year that deduction is gone.
Amid haggling over income and sales tax rates, doing away with the little-used gambling deduction was a popular idea among lawmakers during their session earlier this year.
The Topeka Capital Journal reports the bill that included gambling losses cut most deductions by 30 percent for the 2013 calendar year.
Starting in 2014 items like the home mortgage deduction will be gradually stepped down to 50 percent by 2018, but the gambling loss deduction is being wiped out completely.
No lawmakers stepped forward to defend the gambling deduction, and there has been little public opposition to the move.
MOST VIEWED STORIES
Three former Atchison Co employees arrested on felonies
One hospitalized, one jailed, after Atchison attack
Atchison man involved in fatal NW MO crash
Services set for Effingham woman killed in crash
Barricaded fugitive arrested in Jackson County
Two file to challenge local legislator
Fatal Atchison apt fire investigation continues
USD 415 board select new member
U.S. 36 work in Doniphan Co to impact motorists
Fentanyl find nets four in two Atchison cases
Results from SE Nebraska contested Primary Elections
Date set for signals switch at Hiawatha intersection
Flags to fly half staff Wednesday across KS
State Board approves land transfer agreements
Memorial Day enforcement hits KS roads
Contested races in Tuesday Primary Election in Nebraska
Support sought for fire ravaged family
LATEST STORIES
Tuition increase by KU, others in state
KS grad requirements updated after two decades.
Fentanyl find nets four in two Atchison cases
Armed felon found, arrested, in Jackson Co
Support sought for fire ravaged family
Potts first to file for Sheriff's seat in Atchison Co
Senator Slama won't endorse candidate in legislative race
Local author brings "Broken and Chained" to Falls City Saturday