Do you question the numbers reported on the W-2G's or the win/loss statement that you received?
If so, contact the provider to clarify the reported gambling income and gambling loss.
Are you saying that the gambling statement is reporting a gain or loss? Please advise.
Gambling winnings are reported on line 8b of 2022 1040 Schedule 1 Additional Income and Adjustments to Income.
Gambling losses are reported on line 16 of 2022 1040 Schedule A Itemized Deductions. Schedule A Itemized Deductions is not used if you claim a standard deduction on your 2022 1040 tax return.
Follow these steps to report both income and losses in TurboTax Online:
- Down the left side of the screen, click on Federal.
- Down the left side of the screen, click on Wages & Income.
- Scroll down to Less Common Income. Click Show more.
- Click Start / Revisit to the right of Gambling Winnings.
See this TurboTax Help.
[Edited 4/16/2023 | 2:16pm PST]
@northjerseydevil
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