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[QUOTE="Stick66, post: 1315403, member: 7928"]
Just to clarify by relating what I learned in the book (like the example in my review): You can claim your losses, but only up to what you win. That's why you keep track of your winning and losing sessions separately. 
 
--EX#1: Say for the year you have $800 in winnings and $1000 in losses.
You can only claim $800 in losses since you only had $800 in winnings. 
You cannot claim -$200 since the Feds don't allow you to benefit from being a bad gambler.
And you don't just claim it as $0 since the figures wash.
You must claim +$800 and -$800.
 
--EX#2: Say you had 1 winning session all year and you made $5, but you lost $10 each of the other 300 days or sessions you played in the year. 
That's $3000 in losses and $5 in winnings.
You can only claim $5 in losses since you only had $5 in winnings.
You cannot claim -$2995, etc., etc., like EX#1.
You must claim +$5 and -$5.
 
--EX#3: If you have $1000 in winning sessions and $400 in losing sessions, you claim +$1000 and -$400. 
NOT +$600 total. The Feds address winnings and losses differently.
 
 
Also, log your slots, blackjack, lottery play, etc. It all counts, too. Hope this helps. For more, BUY THE BOOK. It's sooooo worth it.
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