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Business & farm
That was my first assumption. I assumed that checking the box for Professional Gambling in the company setup would kick anything entered in under that General category to be categorized as Gambling winnings. In fact, I can only find that one checkbox at the beginning of Schedule C asking if the income is related to Professional Gambling.
Entering income where you indicated doesn't show up on line 8b of Schedule 1, which is what I'm assuming has to happen for it to get taxed correctly.
‎December 9, 2024
6:27 PM