topic Gambling Winnings in Get your taxes done using TurboTax https://ttlc.intuit.com/community/taxes/discussion/gambling-winnings/01/700255#M281975 We have Social Security as our only source of income--My wife wont a fairly substantial amout of money yesterday at a casino--Do we have to declare those winnings on our return this year Thu, 06 Jun 2019 13:16:07 GMT Dkerv 2019-06-06T13:16:07Z Gambling Winnings https://ttlc.intuit.com/community/taxes/discussion/gambling-winnings/01/700255#M281975 We have Social Security as our only source of income--My wife wont a fairly substantial amout of money yesterday at a casino--Do we have to declare those winnings on our return this year Thu, 06 Jun 2019 13:16:07 GMT https://ttlc.intuit.com/community/taxes/discussion/gambling-winnings/01/700255#M281975 Dkerv 2019-06-06T13:16:07Z Yes, you do. Up to 85% of your Social Security benefits c... https://ttlc.intuit.com/community/taxes/discussion/yes-you-do-up-to-85-of-your-social-security-benefits-c/01/700274#M281980 <P>Yes, you do.&nbsp;Up to 85% of your Social Security benefits can be taxable.&nbsp; There is no age limit for having to pay taxes on Social Security benefits if you have other sources of income along with the SS benefits. &nbsp;When you have other income such as earnings from continuing to work, investment income, pensions, etc. up to 85% of your SS can be taxable.&nbsp;</P><P> <SPAN><B>To enter the W-2G&nbsp; or other documents </B>For your Gambling winnings--Go to Federal&gt;Wages &amp; Income&gt;Less Common Income&gt;Gambling Winnings</SPAN> </P><P>You can enter your winnings, and then keep clicking through the interview to enter gambling losses.</P><P> </P><P>Gambling losses are an itemized deduction; you can only get a deduction if the combination of all of your other itemized deductions exceeds your standard deduction.&nbsp; Losses do not offset winnings dollar for dollar.</P> Thu, 06 Jun 2019 13:16:09 GMT https://ttlc.intuit.com/community/taxes/discussion/yes-you-do-up-to-85-of-your-social-security-benefits-c/01/700274#M281980 xmasbaby0 2019-06-06T13:16:09Z <a rel="nofollow" target="_blank" href="https://turbotax.... https://ttlc.intuit.com/community/taxes/discussion/a-rel-nofollow-target-blank-href-https-turbotax/01/700278#M281981 &lt;a rel="nofollow" target="_blank" href="<A href="https://turbotax.intuit.com/tax-tools/calculators/taxcaster/&quot;&gt;https://turbotax.intuit.com/tax-tools/calculators/taxcaster/&lt;/a" target="_blank">https://turbotax.intuit.com/tax-tools/calculators/taxcaster/"&gt;https://turbotax.intuit.com/tax-tools/calculators/taxcaster/&lt;/a</A>&gt; Thu, 06 Jun 2019 13:16:14 GMT https://ttlc.intuit.com/community/taxes/discussion/a-rel-nofollow-target-blank-href-https-turbotax/01/700278#M281981 xmasbaby0 2019-06-06T13:16:14Z
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topic Gambling Winnings in Get your taxes done using TurboTax
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We have Social Security as our only source of income--My wife wont a fairly substantial amout of money yesterday at a casino--Do we have to declare those winnings on our return this year
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We have Social Security as our only source of income--My wife wont a fairly substantial amout of money yesterday at a casino--Do we have to declare those winnings on our return this year
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Yes, you do. Up to 85% of your Social Security benefits c...
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<P>Yes, you do.&nbsp;Up to 85% of your Social Security benefits can be taxable.&nbsp; There is no age limit for having to pay taxes on Social Security benefits if you have other sources of income along with the SS benefits. &nbsp;When you have other income such as earnings from continuing to work, investment income, pensions, etc. up to 85% of your SS can be taxable.&nbsp;</P><P> <SPAN><B>To enter the W-2G&nbsp; or other documents </B>For your Gambling winnings--Go to Federal&gt;Wages &amp; Income&gt;Less Common Income&gt;Gambling Winnings</SPAN> </P><P>You can enter your winnings, and then keep clicking through the interview to enter gambling losses.</P><P> </P><P>Gambling losses are an itemized deduction; you can only get a deduction if the combination of all of your other itemized deductions exceeds your standard deduction.&nbsp; Losses do not offset winnings dollar for dollar.</P>
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