Sportsbook winnings and losses for your 2026 return
Your app shows a net. The IRS wants gross winnings and losses. Wagertally reads each sportsbook's bet history and splits it bet by bet, with the 2026 90% loss limit applied.
Why the net isn't enough
Every winning bet's profit is gambling income, and every losing stake is a loss you may deduct only by itemizing (Topic 419). A bettor who is down $300 on the year can easily have $5,000 of winnings to report. Bonus bets have no stake of your own, so their whole payout is winnings; pushes and voids are $0.
The 2026 rule
For tax years after 2025, gambling losses are deductible only up to 90% of the losses and only to the extent of gambling winnings (IRB 2026-19, Pub. 529). Winnings go on Schedule 1 line 8b; losses go on Schedule A line 16 — so they help only if you itemize (Topic 419).
| Winnings | Losses | Deductible in 2026 | Left taxable |
|---|---|---|---|
| $100,000 | $100,000 | $90,000 | $10,000 |
| $50,000 | $40,000 | $36,000 | $14,000 |
| $20,000 | $25,000 | $18,000 | $2,000 |
Files it reads
A CSV or Excel export with a date and either a stake and payout (or a Won/Lost result) or a net win/loss column. Book, description and status columns are optional. Add one file per sportsbook.
Your bets stay on your computer
Wagertally reads your files with JavaScript in this browser tab. Your betting history is never uploaded, and closing the tab clears it.
How it works
- Download your bet history from each sportsbook's account page (CSV or Excel) and drop it here — or try the sample or the template.
- Pick your filing status and type your other itemized deductions, then read your winnings, losses, the 90% limit and every check.
- Give the worksheet to whoever prepares your return, or copy the Schedule 1 and Schedule A amounts yourself.
FAQ
What does Wagertally do?
It reads your 2026 sportsbook bet history (and any casino win/loss statement you type in) and works out your gambling winnings, your losses, how much of the losses the new 90% rule lets you deduct, and whether itemizing beats the standard deduction. It doesn't file anything.
What changed for 2026?
The One Big Beautiful Bill Act changed the rule for tax years after 2025: you can deduct only 90% of your gambling losses, and still no more than your winnings. Someone who won $50,000 and lost $50,000 used to owe tax on nothing; for 2026 they deduct $45,000 and $5,000 stays taxable.
Why not just use my net?
The IRS wants gross winnings on Schedule 1 and losses as an itemized deduction on Schedule A. Many bettors with a net loss still have thousands of dollars of winnings. Bet by bet is the strict reading; netting per book per day (the session method) is accepted for slot play and less settled for sports bets.
Is my data uploaded?
No. Your files are read by JavaScript in your browser tab and never sent to us or anyone else. Your bets aren't stored, so closing the tab clears them. Settings can be saved in this browser.
What's free?
Importing any number of bets, the winnings, losses, the 90% limit, the itemize check, every check and the first 25 bets on screen and in print (with a footer). Pro shows and prints every bet and exports the Excel workbook, the bets CSV and the sessions CSV.
What isn't covered?
State taxes (many states treat losses differently), professional gamblers (Schedule C), nonresidents, and the itemized deduction limits for high incomes. Federal only. The totals are only as complete as the history you load.
Is this tax advice?
No. Wagertally applies the rules it describes to the data you provide. Ask your tax adviser what applies to you.