What tax forms do I need to fill out for a lottery win of $1k?

Clyde has a W2-g form for a lottery win.  Can we file an EZ form or what?
IreneS
Intuit Alumni

Get your taxes done using TurboTax

Congratulations on your win!

You will probably need to file a 1040 return, but TurboTax will determine the type of tax return form you need (1040, 1040A, or 1040 EZ)  Just enter the information reported on your W-2G.  To enter your gambling or prize winnings in TurboTax, please follow these steps:

  1. Click on Federal Taxes > Wages & Income  [If you're in TT Self-EmployedPersonal > Personal Income ]
  2. In the Less Common Income section, click on the Start/Update box next to gambling winnings.  (See Screenshot #1, below.)
  3. On the Gambling Winnings screen, click the Yes box.
  4. On the screen, Tell Us About Your Winnings, click the box for the person who had the gambling winnings (you or your spouse, if filing jointly).  Click the Skip W2-G box if Form W-2G is not issued.  (Screenshot #2)
  5. If you click either you or your spouse's name, the next screen will be the W-2G entry form
  6. if you clicked the Skip W-2G box, on the next screen, Any Other Gambling Winnings, click the Yes box.  (Screenshot #3)
  7. You will be able to enter your winnings in the Other Gambling Winnings screen.  (Screenshot #4)
  8. 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. (Screenshot #5)


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