Yes, its itemized, unfortunately it does not have a radio button in the 1099-k section to apply the funds received as gambling. In turbo tax you have to use the other radio button. Then it taxes you for any amount you have on the 1099-k. So when you go to gambling section and enter 1000 made in gambling and reported on 1099-k. And 1000 loss which is basically what I have because I started with 2000. I am still on the hook for the funds received from the 1099-K. Turbo tax doesn't have the logic to apply the funds received from 1099-k as gambling. So do you know how to enter this in turbo tax so this doesn't happen? To me it appears turbo tax was not ready for this scenario and there is no easy way to do it and they are going to see a lot of support cases for this.
