A taxpayer is an occasion $\backslash (\backslash$$ $15,000\backslash )$ at the casino for tax year $2024.$ Over the course of the tax year, the taxpayer has a record of $\backslash (\backslash$$ $18,763\backslash )$ in gambling losses.

If the taxpayer itemizes, is this statement correct?

Is this a correct option?

$\backslash (\backslash$$ $5,000\backslash )$ can be reported as losses on the Schedule A$,$ with an allowable $\backslash (\backslash$$ $3,000\backslash )$ carryforward.

This question may have more than one sub$-$question, which will be delivered one at a time on confirmation of your answer.