mccheese1
New Member

So I claimed gambling winnings and the program asked me for my gambling loss amount which is equivalent to my winnings but my refund did not change. Something i did?

 

Get your taxes done using TurboTax

Gambling

To enter the W-2G  or other documents For your Gambling winnings--Go to Federal>Wages & Income>Less Common Income>Gambling Winnings

You can enter your winnings, and then keep clicking through the interview to enter gambling losses.

 

https://www.irs.gov/help/ita/how-do-i-claim-my-gambling-winnings-and-or-losses

 

Gambling winnings are taxable income.  Losses are an itemized deduction.  If you do not have enough itemized deductions to exceed your standard deduction, your losses will have no effect.

https://blog.turbotax.intuit.com/income-and-investments/how-are-gambling-winnings-taxed-8891/

 

https://ttlc.intuit.com/questions/1900352-can-i-deduct-my-gambling-losses

 

 

2019 Standard Deduction Amounts

 

Single $12,200   (+ $1650 65 or older)

Married Filing Separate  $12,200   (+ $1300 if 65 or older)

Married Filing Jointly $24,400   (+ $1300 for each spouse 65 or older)

Head of Household $18,350  (+ $1650 for 65 or older)

 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

Get your taxes done using TurboTax

Most likely, you did everything right, but still can't deduct your losses. Reason: Winnings are always taxable, but losses are deductible Only if you itemize. For your 2019 return, itemizing usually begins when your Total deductions exceed $12,200 filing Single, or $24,400 MFJ. If you answer all the TurboTax questions about things that Might be deductible, itemizing will be selected for you if you qualify; most people don't ...