Treasury Regulations · 26 CFR
§ 1.165-10. Wagering losses.
Regulation text, no changes From the eCFR, current as of October 15, 2026. The eCFR is an authoritative but unofficial editorial compilation of the Code of Federal Regulations; the official text is the annual CFR on govinfo. Compare it with this section on ecfr.gov (external site) or the official annual CFR on govinfo (external site).
Regulation under 26 U.S.C. § 165
Cite as 26 CFR § 1.165-10
At a glance
Read from the text and its source citation. Not part of the regulation.
- Status
- In the current eCFR
- Source
- T.D. 6500, 25 FR 11402, Nov. 26, 1960; 25 FR 14021, Dec. 21, 1960; T.D. 9989, 89 FR 17606, Mar. 11, 2024, unless otherwise noted.
- Issued under
- 26 U.S.C. § 165
- Length
- 71 words · about 1 min to read
Losses sustained during the taxable year on wagering transactions shall be allowed as a deduction but only to the extent of the gains during the taxable year from such transactions. In the case of a husband and wife making a joint return for the taxable year, the combined losses of the spouses from wagering transactions shall be allowed to the extent of the combined gains of the spouses from wagering transactions.
Where it sits in 26 CFR
- Subchapter A Income tax
- Part 1 Income taxes
- Itemized Deductions for Individuals and Corporations
Nearby sections
- § 1.165-6 Farming losses.
- § 1.165-7 Casualty losses.
- § 1.165-8 Theft losses.
- § 1.165-9 Sale of residential property.
- § 1.165-10 Wagering losses.
- § 1.165-11 Election to take disaster loss deduction for preceding year.
- § 1.165-12 Denial of deduction for losses on registration-required obligations not in registered form.
- § 1.166-1 Bad debts.
- § 1.166-2 Evidence of worthlessness.