Yes, gambling winning will have to be reported under other income and you will have to amend your return. Gambling losses can only be deducted with the Itemized Deduction up to the gambling winnings. Please follow these instructions to enter your winnings:
- Login to your TurboTax Account
- Click "Take Me To My Return"
- Click "Federal" from the left side of your screen
- Scroll down to “Less Common Income” and click “Show more”
- Scroll down to “Gambling Winnings” and click "Start"
- Turbo Tax will walk you through entering the prize winnings.
The IRS will only accept amended returns
via mail.
The 1040X form for 2018 isn’t ready. Please, keep
checking the following information on how to amend your return; it will be
updated once the 2018 form is released:
https://ttlc.intuit.com/replies/3288565
