Yes. It appears you are entering the correct information, however you may not see a reduction in your income for the losses which could be correct. Less Common Income > Prizes, Awards and Gambling Winnings
- You must enter your full amount of gambling winnings. You will be asked about the total amount of losses, enter that as well.
- f you do not itemize your deductions, in other words you use the standard deduction, the losses are not deductible at all.
- If you do itemize deductions, regardless of the amount of your losses, you will be limited to the amount of the winnings.
@Rookie-2727
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