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Yes, you must report and pay taxes on all gambling winnings, even if you did not receive a Form W-2G. All gambling winnings are considered taxable income and the absence of a form does not exempt the income..
Casinos and betting sites only issue a Form W-2G when winnings meet specific thresholds (e.g., $1,200 for slots/bingo, $1,500 for keno, or $600 for other games if the payout is 300 times the wager).
To report winnings when you did not receive a form, use the following path in TurboTax Online:
- Select Federal from the left navigation menu.
- Click on Wages & Income.
- Scroll down to the Less Common Income section and click Show More.
- Click Start or Revisit next to Gambling Winnings.
- Answer Yes to "Did you win money or other prizes from gambling or lotteries in 2025?".
- On the screen asking for W-2G details, select Skip W-2G or I didn't receive a W-2G.
- TurboTax will then provide a field to enter any other gambling winnings not reported on a form.
If you had gambling losses, you can deduct gambling losses, but there are strict IRS limitations. You can only deduct losses if you itemize your deductions on Schedule A. If you take the Standard Deduction, you cannot deduct any losses, but you must still report all winnings. Also, you cannot deduct more in losses than the total amount of winnings you report. To claim a deduction, the IRS requires you to keep an accurate diary or log of your winnings and losses, including dates, locations, and receipts or wagering tickets.
If you have losses, after entering your winnings, continue through the screens to enter your gambling losses for the year. TurboTax will automatically determine if itemizing your losses provides a better tax outcome than taking the standard deduction based on your overall tax situation.
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