Get your taxes done using TurboTax

Yes, you must report any gambling winnings starting from $1. The losses would only be allowed if you can itemize your deductions and TurboTax will ask you for the amount.  

Enter your gambling winnings using the steps below, a document is not necessary. Check the rules for your state return.

• IRS Topic 419 Gambling Income and Losses

Enter the gambling winnings using the steps below.

1. Sign into your TurboTax Online/Mobile or TurboTax Desktop account
2. Select Tax Home  (on the left) > Income & Expenses > Less Common Income > Gambling Winnings > Start
   1. TurboTax Desktop start with Income > Less Common Income > Gambling Winnings
3. Follow the screen prompts based on your situation (reporting document or none)
4. Be prepared with your gambling losses as well but they may or may not affect your tax return.  If you itemize deductions it could help.