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Get your taxes done using TurboTax
Thank you for the quick response, but I'm still not clear and there seems to be various answers everywhere I look. Do you enter the net of what you won and enter that in the winnings field or do you enter total winnings? Say the bets you won totaled $10,000 over the course of a year from many small bets anywhere from $1 to $200 wagered at a time all on the online sites like Draftkings and Fanduel. But you also lost a number of bets that totaled $5,000, So net profit over the year is $5,000. Do you enter the net amount of $5,000 or do you enter the total amount of $10,000 in winnings?
‎April 18, 2021
6:46 AM