After an extra inning, a 17-minute rain delay, and seven games, congratulations to the Chicago Cubs. They have finally broken their 108-season World Series drought with a dramatic finish for the championship title. If you did a little gambling and won some cash, don't forget about Uncle Sam's share of your pot. At the beginning of the season, the Chicago Cubs' odds to win the World Series were 6/1. If you were a savvy bettor or ardent fan and you placed a wager, you'll be getting a tax form W-2G showing the amount you won and taxes withheld. That gets reported on your 1040 on line 21. If you got a little frisky and placed money on the likes of teams like the Phillies, Braves, or Reds that had 100/1 odds, then you may have some gambling losses. The good news is you can deduct those losses to the extent of your winnings - the bad news is, they're only itemized deductions, subject to various limitations and thresholds. If you do have losses, make sure to keep a good record of them, either with a log, losing tickets, or other forms of substantiation.

Feeling lucky for next season? You now have 150 days until Opening Day 2017!