Claiming gambling losses requires you to itemize your deductions, both federally and in Minnesota. In Minnesota, your itemized deductions start to be limited if your adjusted gross income is over $199,850, or $99,925 if married filing separately. In that case, your itemized deductions start to be phased out. If you are using TurboTax desktop or pre-pay for TurboTax online, you can look at Minnesota Schedule M1SA to see the amount that is being phased out. If you are using TurboTax Online and you have not yet paid, you can see your total deductible Minnesota itemized deductions, as well as your AGI:
- Open or continue your return.
- Select Tax Tools in the left menu (if you don't see this, select the menu icon in the upper-left corner).
- With the Tax Tools menu open, you can then view your 1040 form: Select Tools. Next, select View Tax Summary in the pop-up, then MN Tax Summary in the left menu
- Your Adjusted gross income is on the first line. The itemized deductions, which includes your gambling losses is on the third line. If it is less than your reported gambling losses, it is because your AGI exceeds the threshold and your allowable itemized deductions have been reduced.
