![]() ![]() ![]() Federal gross income includes winnings from all types of gambling, including lottery, slot parlor and casino. Federal gross income is all income from whatever source derived unless specifically excluded. In Massachusetts, gross income is defined as federal gross income as defined in the Internal Revenue Code as of Januwith certain modifications. All of this revenue came out of the pockets of those eager to try their luck. This is in addition to the $2 billion or so per year wagered at the Plainridge Park Casino that generates $170 million in revenue. Since the MGM casino opened in August, gamblers have reportedly wagered more than $428 million on MGM Springfield’s slot machines that generated about $40 million in revenue for MGM and reportedly another $18.5 million in revenue from table games. Massachusetts Tax Deduction for Gambling Losses ![]()
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