Keeping gambling records the IRS will accept

Every loss you deduct has to be backed up, and since 2026 each dollar of loss is only worth 90 cents of deduction. Without records, you owe tax on every win reported to the IRS and can deduct nothing against it.

The IRS expects a diary or similar record, kept as you go, with:

• Date and type of each wager or gambling activity
• Name and address or location of the casino, track or site
• Names of other people with you
• Amounts won and lost

A notes app or spreadsheet is fine. Record each session on the day, not reconstructed in April.

• Forms W-2G and 5754
• Wagering tickets and betting slips
• Canceled checks, bank withdrawals and credit records
• Statements of winnings or payment slips from the casino

Online sportsbooks and casinos keep a full transaction history. Download it each year; accounts get closed and histories get trimmed.

Slot players often count results per session rather than per spin. The IRS proposed a safe harbor that defines a session as one type of game at one casino in one calendar day, but it never finalized it. Many people use that definition anyway; know that it isn't binding.