<prompt> Human: Hey guys, i won a large sum of money from table games in vegas. Little background about myself. Senior in college with 5k in loans. Paid off car. Little to no rent. Salary is under 40k a year. I live in CaliforniaWhat are the best things to do to get tax writeoffs for the end of this year? I know my losses can be written off, but they are not even a quarter of the winnings. Buy a house to have a mortage to write off? Can i write off a car loan towards that? What can i expect to be taxed?I dont need lessons on gambling ane giving it back, thats not what im here for. Sorry if this is a ramble or has no structure. Thank you.  <response>: you can only writeoff losses against any winnings, but you seem to know that.the other stuff you mentioned, i dont think gives you any writeoffdeduction advantage for taxes. IMO your best move is to estimate how much youll be taxed on your winnings and set it aside, then do whatever with the leftover cash: pay off loans, go back to vegas, etc. 