{"id":22199,"date":"2016-04-08T22:18:19","date_gmt":"2016-04-08T22:18:19","guid":{"rendered":"https:\/\/www.hrblock.com\/tax-center\/newsroom\/the-gambler-client-hits-jackpot-after-hr-block-second-look\/"},"modified":"2023-03-01T13:00:44","modified_gmt":"2023-03-01T19:00:44","slug":"gambler-hits-jackpot-after-hr-block-second-look","status":"publish","type":"newsroom","link":"https:\/\/www.hrblock.com\/tax-center\/newsroom\/income\/other-income\/gambler-hits-jackpot-after-hr-block-second-look\/","title":{"rendered":"The Gambler: Client hits jackpot after H&R Block Second Look\u00ae"},"content":{"rendered":"

Big winner didn\u2019t account for losses on tax return, but H&R Block\u2019s Second Look did<\/h2>\n
Summary<\/div>\n
\n

Author\u2019s note: This feature is one of a series of success stories generally describing tax situations routinely reviewed when H&R Block takes a look at prior-year tax returns new clients either prepared themselves or had someone else file.<\/p>\n

Story 2 – Taxpayers Get an Education on Overlooked Tax Credits for College<\/a>
\nStory 3 – He’s Not Heavy, He’s My Brother<\/a><\/p>\n

<\/div>\n
\n
\"secondlook.jpg\"<\/a><\/div>\n<\/div>\n<\/div>\n

While the gambler may have known when to hold \u2018em or when to fold \u2018em \u2013 he didn\u2019t know that the IRS allows taxpayers to offset gambling winnings with losses on the tax return. Thankfully for this taxpayer, his H&R Block tax professional knew how to deduct \u2018em.<\/p>\n

The gambler had a \u201csubstantial amount of winnings,\u201d according to the tax professional. But when the tax professional started to review his prior year return as part of H&R Block\u2019s Second Look review<\/a>*, it seemed his previous tax preparer did not ask about nor take into account gambling losses to offset his winnings. Doing so would have lowered the overall taxable income.<\/p>\n

By helping him calculate his gambling losses, the H&R Block tax professional reduced his taxes on his prior return and saved a considerable amount of money on his current year return.<\/p>\n

One could say the gambler was \u201clucky\u201d to have gone to H&R Block to have his prior and current tax returns prepared. Or, one may just say he was smart.<\/p>\n

Taxpayers who prepared their returns themselves or had others prepare them can visit any of H&R Block\u2019s approximately 10,000 U.S. offices<\/a> for a free review of the three prior year returns. Those who already filed a 2015 return with someone else can also bring in their 2015 return for the free review. Taxpayers can see if an H&R Block Second Look is right for them with a free online assessment<\/a> and schedule an appointment online<\/a> or by calling 1-800-HRBLOCK.<\/p>\n

* Results vary. All tax situations are different.<\/p>\n","protected":false},"excerpt":{"rendered":"

Big winner didn\u2019t account for losses on tax return, but H&R Block\u2019s Second Look did Summary Author\u2019s note: This feature is one of a series of success stories generally describing tax situations routinely reviewed when H&R Block takes a look at prior-year tax returns new clients either prepared themselves or had someone else file. Story […]<\/p>\n","protected":false},"author":1,"featured_media":26865,"menu_order":0,"template":"","tags":[],"news-categories":[23360,23361],"class_list":["post-22199","newsroom","type-newsroom","status-publish","has-post-thumbnail","hentry","news-categories-income","news-categories-other-income"],"acf":{"post_rest_thumbnail_alt_id":null},"yoast_head":"Gambler hits H&R Block Second Look jackpot | H&R Block Newsroom<\/title>\n<meta name=\"description\" content=\"A H&R Block client was a big winner, but didn't account for losses on tax return - H&R Block's Second Look did.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.hrblock.com\/tax-center\/newsroom\/income\/other-income\/gambler-hits-jackpot-after-hr-block-second-look\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Gambler: Client hits jackpot after H&R Block Second Look\u00ae\" \/>\n<meta property=\"og:description\" content=\"A H&R Block client was a big winner, but didn't account for losses on tax return - 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