You might not believe the tax law is fair---but the tax law is what it is. And you do not get to subtract your losses from your winnings and only claim the amount that you came out "ahead" by. ALL of your winnings have to be reported on your federal income tax return.
If you do not have enough itemized deductions to use them on your tax return, then your gambling losses have no effect at all. You just pay tax on the winnings. Gambling losses are an itemized deduction. In order to use itemized deductions on your tax return, you must have enough itemized deductions to exceed your standard deduction.
We are not counselors here, but I think you might benefit from seeking some professional counseling if your gambling problem is becoming so serious you are being banned from casinos, etc. and getting yourself into tax problems.
More information:
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
2020 Standard Deduction Amounts
Single $12,400 (+ $1650 65 or older)
Married Filing Separate $12,400 (+ $1300 if 65 or older)
Married Filing Jointly $24,800 (+ $1300 for each spouse 65 or older)
Head of Household $18,650 (+ $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.**
