topic Gambling looses in Get your taxes done using TurboTax

Gambling looses

jragauas — Thu, 06 Jun 2019 14:07:45 GMT

Had big gambling losses in 2016 is this a deduction with proof from casino

To enter the W-2G or other documents For your Gambling w...

xmasbaby0 — Thu, 06 Jun 2019 14:07:47 GMT

To enter the W-2G or other documents For your Gambling winnings--Go to Federal>Wages & Income>Less Common Income>Gambling Winnings

You can enter your winnings, and then keep clicking through the interview to enter gambling losses.

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. Losses do not offset winnings dollar for dollar.

You can claim gambling losses only as much as you claim g...

jerry2000 — Thu, 06 Jun 2019 14:07:50 GMT

You can claim gambling losses only as much as you claim gambling winnings and no more. You can not claim more gambling losses than you claim gambling winnings.