@dhuber24 wrote:
Since I report the winning sessions as "other income" my W2G amount won't match what the IRS has.
In order to prevent an audit, I was told to add verbiage on the "other income" line that states I elected to report using the Session Method.
If you don't enter the amount of W-2Gs on the gambling line, the IRS will send a letter saying you didn't report it.
What I've been saying is to enter the $100k of W-2Gs as gambling, then enter negative $90k as an "other income" for the Session adjustment. That way the IRS will 'see' the $100k of gambling income from the W-2Gs, but the net result is the correct $10k of income for both Federal and Wisconsin.
