Aloha! Hawaii Repeals Gambling Loss Prohibition

Last summer Hawaii enacted a tax, err, the elimination of the ability to take gambling losses as an itemized deduction. This made our fiftieth state even less of a good place for gamblers to reside. Today, Governor Linda Lingle signed legislation repealing the repeal of the gambling loss deduction. Hawaiian gamblers can now take gambling losses as an itemized deduction on their returns.

The repeal is retroactive for 2009. Anyone who did not take the deduction and needs to can file an amended return. Hawaiian state income tax returns are not due until Tuesday, April 20th.

Leave a Reply