Yes, you can combine your 72 Form W-2G forms to report them in TurboTax. However, it is recommended that you:
- Only combine W-2G's from the same casino (so the Casino's EIN matches).
- Also, have a spreadsheet for documentation (if requested by the IRS) of calculation totals.
Your win/loss statement does not get entered into TurboTax. Add your winnings from Form W-2g and if you itemize
To add Form W-2G (gambling winnings)
To add a W-2g
1. Sign In or Open TurboTax.
2. Select "Take me to my return"
3. Select "Search" or "Help" icon.
4. Type "W-2g" and select "Jump to W-2g"
5. Answer "Yes" on the Gambling Winnings screen and follow the instructions to enter your W-2g.
6. Add your gambling Losses on the "Let us know if you had any gambling losses in 2017" screen.
The IRS limits gambling losses up to the extent of gambling winnings included on your tax return. Gambling losses become a tax deduction if you used itemized versus standard deductions. See FAQ below for more on claiming gambling losses and record keeping.
Click
here to learn more about deducting gambling losses.
