Do Ihave to put every W-2G in I have many and my losses are more than winnings

marge-jay — Mon, 03 Jun 2019 20:19:30 GMT

Yes, you are required to report/file all your W2G income...

Patrice — Mon, 03 Jun 2019 20:19:31 GMT

Yes, you are required to report/file all your W2G income even if your losses are more than your winnings. Gambling losses are ITEMIZED Deductions and will show up on Schedule A only if you itemize your deductions instead of taking the standard deduction. As such your gambling winning are not directly offset by the losses on a dollar for dollar basis. First you are only allowed to make a claim for gambling losses up to the amount of winnings.

topic Do Ihave to put every W-2G in I have many and my losses are more than winnings in Get your taxes done using TurboTax

Do Ihave to put every W-2G in I have many and my losses are more than winnings

Yes, you are required to report/file all your W2G income...