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New Member
posted Jun 22, 2025 4:53:24 PM

How to add gambling losses to my tax amendment ?

I’m trying to do itemized. & I do not see where I can add and itemize my losses.

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3 Replies
Level 15
Jun 22, 2025 6:14:27 PM

After you finish entering your gambling winnings in the income section, continue through the screens. You will come to a screen that asks you to enter your gambling losses. If you already entered gambling winnings, go back to the gambling winnings topic to get to the gambling losses screen. You can only deduct gambling losses up to the amount of your winnings.

 

Level 15
Jun 22, 2025 11:04:50 PM

gambling losses will produce no benefit unless your itemized deductions exceed your standard deduction

Level 15
Jun 23, 2025 4:22:16 AM

Gambling

To enter the W-2G  or other documents For your Gambling winnings--Go to Federal>Wages & Income>Less Common Income>Gambling Winnings

You can enter your winnings, and then keep clicking through the interview to enter gambling losses.

 

https://www.irs.gov/help/ita/how-do-i-claim-my-gambling-winnings-and-or-losses

 

Gambling winnings are taxable income.  Losses are an itemized deduction.  If you do not have enough itemized deductions to exceed your standard deduction, your losses will have no effect.

https://blog.turbotax.intuit.com/income-and-investments/how-are-gambling-winnings-taxed-8891/

 

 

2024 STANDARD DEDUCTION AMOUNTS

SINGLE $14,600    (65 or older/legally blind + $1950)

MARRIED FILING SEPARATELY    $14,600    (65 or older/legally blind + $1550)

MARRIED FILING JOINTLY $29,200    (65 or older/legally blind + $1550)

HEAD OF HOUSEHOLD $21,900    (65 or older/legally blind + $1950)