Louisiana § RS 47:71 - Limitations on deductions for losses from wagering and from wash sales
Full text of Louisiana Louisiana Civil Code § RS 47:71 — Limitations on deductions for losses from wagering and from wash sales, with citation guidance and answers to common questions.
§ RS 47:71. Limitations on deductions for losses from wagering and from wash sales
A. Wagering losses. Losses from wagering transactions shall be allowed as deductions only to the extent of gains from such transactions.
B. Loss on wash sales of stock or securities. For disallowance of loss deductions in the case of sales of stock or securities where within thirty days before or after the date of the sale the taxpayer has acquired substantially identical property, see R.S. 47:160.
Source: official Louisiana text · Last verified 2026-08-27
Frequently Asked Questions About Louisiana § RS 47:71
What does Louisiana Civil Code § RS 47:71 cover?
Section RS 47:71 ("Limitations on deductions for losses from wagering and from wash sales") is part of the Louisiana Civil Code, the codified statutory law of Louisiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Louisiana § RS 47:71?
A common citation format is "Louisiana Civil Code § RS 47:71" (Louisiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Louisiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Louisiana official source linked on this page or consult a licensed Louisiana attorney.
How does Louisiana § RS 47:71 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Louisiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Louisiana.