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Gambler Hits Jackpot With Court's Tax Ruling

"The Minneapolis woman with a 60-hour-a-week gambling regimen — she labeled it a business — convinced the Minnesota Supreme Court that she should be able to deduct $200,000 in gambling losses over three years from her taxes.

"...State tax collectors had been demanding she pay $102,000 in back taxes.

"...Justices concurred that she was involved in a 'trade or business,' even if it wasn't a particularly reasonable one to practice..."

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