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V3416-20 ·24 November 2020 ·consulta-vinculante Medium impact
Tax

Gambling losses cannot exceed winnings obtained within the same period

A query was raised regarding whether losses from non-winning sports bets can be offset against winnings within the same tax year. The DGT has ruled that gambling losses cannot exceed the total winnings obtained during the same tax period.

In 5 key points

How it affects those involved

This ruling clarifies the limits for offsetting gambling losses against winnings for tax purposes, preventing taxpayers from using excess losses to reduce other taxable income.

Lifecycle

2020-11-24PublishedPublished in the BOE
Official text Based on BOE data (boe.es). Information, not advice.

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This analysis is informational only and does not constitute legal advice or create a client-adviser relationship. BM Consulting.
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