Congratulations on your win!
Gambling winnings are normally reported on Form W-2G. To enter your gambling or prize winnings in TurboTax (even if you didn't receive a W-2G), please follow these steps:
- Click on Federal > Wages & Income
- In the Less Common Income section , click on the Start/Update box next to gambling winnings.
- On the Gambling Winnings screen, click the Yes box.
- On the screen, Whose W-2G do you want to work on?, mark the box We didn't receive a W-2G.
- Answer Yes on the next screen.
- On the screen, Enter your gambling or lottery winnings that weren't reported on W-2G, enter your winnings.
- After entering your winnings, you will be asked to enter your losses (if any) on the next screen, Gambling Losses. [Gambling losses can be deducted as an itemized deduction up to the total of reported gambling and prize winnings.
