Loading chat...
KS SB226
Bill
Status
2/6/2025
Primary Sponsor
Assessment and Taxation
Click for details
AI Summary
-
Adds 100% of gambling losses as an allowable Kansas itemized deduction for tax years beginning January 1, 2025, aligning with federal tax treatment under IRC Section 165(d)
-
Gambling losses may only be deducted to the extent of gambling winnings, consistent with existing federal limitations
-
Expands the list of Kansas itemized deductions, which already includes charitable contributions, medical expenses, mortgage interest, and real/personal property taxes at 100%
-
Amends K.S.A. 2024 Supp. 79-32,120 and takes effect upon publication in the statute book
Legislative Description
Allowing an itemized deduction for certain losses from wagering transactions for individuals for income tax purposes.
Last Action
Senate Hearing: Tuesday, March 4, 2025, 9:30 AM Room 548-S
3/4/2025