Will Turbotax fix my return if I did it wrong?

Forum|Forum|2 years ago
March 27, 2024
2 replies
32 views

I won a lot at the casino and I am not sure if I did my taxes properly. I claimed up to my winning amount from my win/loss statement.

TurboTax Deluxe Online

JulieS

Alumni - Intuit

No, unless you used Expert Assist or Full Service, TurboTax won't change the tax return that you filed.

When you use one of the do it yourself options, the return that you prepared is the one that gets filed. That being said, TurboTax is loaded with checkpoints, additional information, and reviews to help you avoid making mistakes.

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xmasbaby0

Level 15

No one else can see your tax return. Unless you pay an extra fee to have "Live" expert help, this is strictly do-it-yourself tax software and no one else is looking at it or making any corrections. You are the one who has to check all of your amounts and make sure they are entered correctly and in the right places. TurboTax does not check outside sources to see if you enter your amounts correctly.

You say you have gambling income so perhaps you have questions about how that was supposed to be entered.

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/

https://ttlc.intuit.com/questions/1900352-can-i-deduct-my-gambling-losses

2023 STANDARD DEDUCTION AMOUNTS

SINGLE $13,850 (65 or older/legally blind + $1850)

MARRIED FILING SEPARATELY $13,850 (65 or older/legally blind + $1500)

MARRIED FILING JOINTLY $27,700 (65+/legally blind) ) + $1500 per spouse

HEAD OF HOUSEHOLD $20,800 (65 or older/blind) + $1850)

If you have other questions, please post them in the forum before you file so we can help.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**