DEFINITION of 'Invoice'. A commercial document that itemizes a transaction between a buyer and a seller. An invoice will usually include the quantity of purchase, price of goods and/or services, date, parties involved, unique invoice number, and tax information.If goods or services were purchased on credit, the invoice will usually specify the terms of the deal, and provide information on the available methods of payment.n invoice will usually include the quantity of purchase, price of goods and/or services, date, parties involved, unique invoice number, and tax information.
Gambling losses are deducted on Schedule A as a miscellaneous deduction and are not subject to a 2% limit. This means that you can deduct all losses up to the amount of your winnings, not just the amount over 2% of your adjusted gross income.
You can, however, deduct non-winning lottery tickets from your federal income tax return under certain circumstances. For example, if you spent $1,000 on lottery tickets last year and you won $3,500, you can subtract $1,000 from $3,500 to get $2,500 in gambling winnings.That will reduce your taxable earnings by $1,000.ou can, however, deduct non-winning lottery tickets from your federal income tax return under certain circumstances. For example, if you spent $1,000 on lottery tickets last year and you won $3,500, you can subtract $1,000 from $3,500 to get $2,500 in gambling winnings. That will reduce your taxable earnings by $1,000.