topic Why when I enter my gambling winnings and losses which shows $0 does my taxes show $2622 due ? in Get your taxes done using TurboTax https://ttlc.intuit.com/community/taxes/discussion/why-when-i-enter-my-gambling-winnings-and-losses-which-shows-0-does-my-taxes-show-2622-due/01/397276#M164055 Tue, 04 Jun 2019 19:46:17 GMT rwnshyann 2019-06-04T19:46:17Z Why when I enter my gambling winnings and losses which shows $0 does my taxes show $2622 due ? https://ttlc.intuit.com/community/taxes/discussion/why-when-i-enter-my-gambling-winnings-and-losses-which-shows-0-does-my-taxes-show-2622-due/01/397276#M164055 Tue, 04 Jun 2019 19:46:17 GMT https://ttlc.intuit.com/community/taxes/discussion/why-when-i-enter-my-gambling-winnings-and-losses-which-shows-0-does-my-taxes-show-2622-due/01/397276#M164055 rwnshyann 2019-06-04T19:46:17Z Gambling losses can only be deducted up to the amount of... https://ttlc.intuit.com/community/taxes/discussion/gambling-losses-can-only-be-deducted-up-to-the-amount-of/01/397282#M164057 <P>Gambling losses can only be deducted up to the amount of the gambling winnings.&nbsp; Gambling winnings are reported on Form 1040 Schedule 1 on Line 21 as Other Income.&nbsp; Gambling Losses are reported on Form 1040 Schedule A as a Miscellaneous itemized deduction.&nbsp; <B>Gambling losses are not a one-for-one reduction in winnings</B>.&nbsp; Your <B><U>total itemized deductions</U></B> reported on Form 1040 Schedule A must be greater than the standard deduction for your filing status to have any tax benefit.<BR /></P> Tue, 04 Jun 2019 19:46:19 GMT https://ttlc.intuit.com/community/taxes/discussion/gambling-losses-can-only-be-deducted-up-to-the-amount-of/01/397282#M164057 DoninGA 2019-06-04T19:46:19Z