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Where do I enter W2G if I am a professional gambler? I dont think it is right to enter it in the less common income because it won't subject to self-employment tax.

I need to report it as a self-employment income so I am including the W2G incomes on the schedule C instead, but I do not know where to enter the payer's info on my schedule C. should I just ignore the payer's info? Can anyone help?
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1 Reply
LenaH
Employee Tax Expert

Where do I enter W2G if I am a professional gambler? I dont think it is right to enter it in the less common income because it won't subject to self-employment tax.

If you are a professional gambler, you would report your winnings on Schedule C as Self-Employment Income, and your gambling losses as a Schedule C business expenses. However, your losses can only be deducted up to your gambling winnings

 

You are able to file a Schedule C without a payer's EIN. When you are inputting information for your Schedule C, click on the option Other self-employed income under Common Income. This includes cash and checks received and income not reported on any particular 1099 form. The amount, however, should total the amount on your W-2G(s).

 

To set up your Schedule C in TurboTax:

  1. Open or continue your return.
  2. Search for schedule c and click the Jump to link in the search results.
  3. Answer Yes to Did you have any self-employment income or expenses?
  4. Follow the onscreen instructions.

It is important that to classify as a professional gambler, you must be able to show you are in the business of gambling and that you are legitimately engaged in gambling activities with the expectation of a profit. 

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