Sign in to Support
If you itemize instead of taking the Standard Deduction, you can deduct gambling losses up to the amount of your winnings.
You won't be able to deduct gambling losses if you lost more money than you won (excess losses) or if you're taking the Standard Deduction. For example, if you have $5,000 in winnings but $7,000 in losses, your deduction is limited to $5,000.
Unlock tailored help options in your account
Get answers to all your tax questions
Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Expert Assist.
Deluxe to maximize tax deductions
TurboTax self-employed & investor taxes
Free military tax filing discount
TurboTax Expert Full Service Pricing
TurboTax Expert Full Service Business Taxes
TurboTax Expert Assist Business Taxes
TurboTax Expert 365 Business Tax Planning
TurboTax stores and Expert offices - Find Your Local Tax Expert
©1997-2026 Intuit, Inc. All rights reserved.
Intuit, QuickBooks, QB, TurboTax, Credit Karma, and Mailchimp are registered trademarks of Intuit Inc. Terms and conditions, features, support, pricing, and service options subject to change without notice.
Security Certification of the TurboTax Online application has been performed by C-Level Security.
By accessing and using this page you agree to the Terms of Use.
