If you are unable to find the option to report your gambling winnings, it's likely because you need to navigate to the specific gambling section within TurboTax.
Typically, gambling winnings should be reported on a W2-G, not a 1099.
To correctly enter your gambling winnings and claim related losses, follow these steps:
- Select Income.
- Choose Less common Income.
- Go to Prizes, Awards, and Gambling Winnings.
- When prompted about a W2-G, select No.
- Enter your winning amount.
- On the subsequent screen, enter your corresponding losses.
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