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user17779185711
Level 1
May 4, 2026
Question

Gambling online says 350000 win then total loss of $48000 I never won that kind of money and I'm not sure why it's coming up like that and what to do because now it raises my AGI so much and it's going to affect other things like Medicare and taxes o

  • May 4, 2026
  • 1 reply
  • 93 views
No text available

    1 reply

    DoninGA
    Level 15
    DoninGALevel 15
    Level 15
    May 4, 2026

    Go back to the section for entering your gambling winnings and losses.  There is probably a misplaced decimal point or a comma entered.

     

    To enter, edit or delete Gambling Winnings and Losses -

    Click on Federal Taxes (Personal using Home and Business)
    Click on Wages and Income (Personal Income using Home and Business)
    Click on I'll choose what I work on (if shown)
    Scroll down to Less Common Income
    On Prizes, Awards, and Gambling Winnings, click the start or update button

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