topic Re: Gambling win/loss in Deductions & credits https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-gambling-win-loss/01/969576#M109786 <P><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px">You will receive a<STRONG> Form W2-G</STRONG>&nbsp;reporting your gambling winnings and the federal and state taxes withheld.&nbsp; Your gross winnings and your federal and state withholding should be reported on your tax returns.&nbsp; If you itemize your deductions on <U>Schedule A</U>, you will be able to deduct&nbsp;your gambling losses,<STRONG><EM> up to the amount</EM></STRONG> of your gambling winnings.&nbsp;&nbsp;<SPAN style="color:#444444">  For more information, check out this TurboTax article: </SPAN><A href="https://turbotax.intuit.com/tax-tips/jobs-and-career/can-you-claim-gambling-losses-on-your-taxes/L4lQ3IAWt" target="_blank"><SPAN style="color:blue">Deducting Gambling Losses</SPAN></A><SPAN style="color:#444444">.</SPAN>&nbsp;</SPAN></SPAN></P> <P>&nbsp;</P> <P><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px"><SPAN style="color:#444444">To enter your</SPAN><STRONG> </STRONG><STRONG><SPAN style="color:#444444">Gambling</SPAN></STRONG><STRONG><SPAN style="color:#444444"> Winnings and Losses&nbsp;</SPAN></STRONG><SPAN style="color:#444444">in TurboTax Online</SPAN><SPAN style="color:#444444">, please follow these instructions: </SPAN>&nbsp;</SPAN></SPAN></P> <UL> <LI><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px"><SPAN style="color:#444444">Sign In to TurboTax Online</SPAN>&nbsp;</SPAN></SPAN></LI> <LI><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px"><SPAN style="color:#444444">Click "</SPAN><STRONG>Take Me to my Return</STRONG>"&nbsp;</SPAN></SPAN></LI> <LI><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px"><SPAN style="color:#444444">Click "</SPAN><STRONG>Federa</STRONG>l" from the left side of your screen&nbsp;</SPAN></SPAN></LI> <LI><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px"><SPAN style="color:#444444">Scroll down to "</SPAN><STRONG>Less Common Income</STRONG>" and click "<STRONG>Show More</STRONG>"&nbsp;</SPAN></SPAN></LI> <LI><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px"><SPAN style="color:#444444">Click "</SPAN><STRONG>Start</STRONG>" to the right of "<STRONG><SPAN style="color:#444444">Gambling</SPAN></STRONG><STRONG><SPAN style="color:#444444"> Winnings</SPAN></STRONG><SPAN style="color:#444444">" and click "</SPAN><STRONG>Yes</STRONG>"&nbsp;</SPAN></SPAN></LI> <LI><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px"><SPAN style="color:#444444">From here TurboTax will walk you through entering your </SPAN><STRONG><SPAN style="color:#444444">Gambling</SPAN></STRONG><STRONG><SPAN style="color:#444444"> Winnings</SPAN></STRONG><SPAN style="color:#444444">, with or without a </SPAN><STRONG>Form W2G</STRONG>&nbsp;</SPAN></SPAN></LI> <LI><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px"><SPAN style="color:#444444">As you walk through this section, you will also be asked about your</SPAN><STRONG> </STRONG><STRONG><SPAN style="color:#444444">Gambling</SPAN></STRONG><STRONG><SPAN style="color:#444444"> Losses</SPAN></STRONG>&nbsp;</SPAN></SPAN></LI> </UL> <P>&nbsp;</P> Thu, 26 Dec 2019 19:25:44 GMT RachelW33 2019-12-26T19:25:44Z Gambling win/loss https://ttlc.intuit.com/community/tax-credits-deductions/discussion/gambling-win-loss/01/969533#M109773 <P>Hello,</P><P>What if I had gambling winnings during the year and had the casino withhold taxes for federal and state, then at the end of the year get a win/loss statement and see that losses were greater than winnings. How would that be reported when doing 2019 taxes? Thank you.</P> Thu, 26 Dec 2019 17:27:29 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/gambling-win-loss/01/969533#M109773 mtillinghast 2019-12-26T17:27:29Z Re: Gambling win/loss https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-gambling-win-loss/01/969573#M109784 <P class="p1"><SPAN class="s1"><STRONG>Gambling</STRONG></SPAN></P> <P class="p2"><SPAN class="s1"><STRONG>To enter the W-2G<SPAN class="Apple-converted-space">&nbsp; </SPAN>or other documents </STRONG>For your Gambling winnings--Go to Federal&gt;Wages &amp; Income&gt;Less Common Income&gt;Gambling Winnings</SPAN></P> <P class="p3"><SPAN class="s1">You can enter your winnings, and then keep clicking through the interview to enter gambling losses.</SPAN></P> <P class="p4">&nbsp;</P> <P class="p3"><SPAN class="s2"><A href="https://www.irs.gov/help/ita/how-do-i-claim-my-gambling-winnings-and-or-losses" target="_blank">https://www.irs.gov/help/ita/how-do-i-claim-my-gambling-winnings-and-or-losses</A></SPAN></P> <P class="p4">&nbsp;</P> <P class="p3"><SPAN class="s1">Losses are an itemized deduction.<SPAN class="Apple-converted-space">&nbsp; </SPAN>If you do not have enough itemized deductions to exceed your standard deduction, your losses will have no effect.</SPAN></P> <P class="p2"><SPAN class="s2"><A href="https://blog.turbotax.intuit.com/income-and-investments/how-are-gambling-winnings-taxed-8891/" target="_blank">https://blog.turbotax.intuit.com/income-and-investments/how-are-gambling-winnings-taxed-8891/</A></SPAN></P> <P class="p5">&nbsp;</P> <P class="p2"><SPAN class="s2"><A href="https://ttlc.intuit.com/questions/1900352-can-i-deduct-my-gambling-losses" target="_blank">https://ttlc.intuit.com/questions/1900352-can-i-deduct-my-gambling-losses</A></SPAN></P> Thu, 26 Dec 2019 19:20:19 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-gambling-win-loss/01/969573#M109784 xmasbaby0 2019-12-26T19:20:19Z Re: Gambling win/loss https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-gambling-win-loss/01/969576#M109786 <P><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px">You will receive a<STRONG> Form W2-G</STRONG>&nbsp;reporting your gambling winnings and the federal and state taxes withheld.&nbsp; Your gross winnings and your federal and state withholding should be reported on your tax returns.&nbsp; If you itemize your deductions on <U>Schedule A</U>, you will be able to deduct&nbsp;your gambling losses,<STRONG><EM> up to the amount</EM></STRONG> of your gambling winnings.&nbsp;&nbsp;<SPAN style="color:#444444">  For more information, check out this TurboTax article: </SPAN><A href="https://turbotax.intuit.com/tax-tips/jobs-and-career/can-you-claim-gambling-losses-on-your-taxes/L4lQ3IAWt" target="_blank"><SPAN style="color:blue">Deducting Gambling Losses</SPAN></A><SPAN style="color:#444444">.</SPAN>&nbsp;</SPAN></SPAN></P> <P>&nbsp;</P> <P><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px"><SPAN style="color:#444444">To enter your</SPAN><STRONG> </STRONG><STRONG><SPAN style="color:#444444">Gambling</SPAN></STRONG><STRONG><SPAN style="color:#444444"> Winnings and Losses&nbsp;</SPAN></STRONG><SPAN style="color:#444444">in TurboTax Online</SPAN><SPAN style="color:#444444">, please follow these instructions: </SPAN>&nbsp;</SPAN></SPAN></P> <UL> <LI><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px"><SPAN style="color:#444444">Sign In to TurboTax Online</SPAN>&nbsp;</SPAN></SPAN></LI> <LI><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px"><SPAN style="color:#444444">Click "</SPAN><STRONG>Take Me to my Return</STRONG>"&nbsp;</SPAN></SPAN></LI> <LI><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px"><SPAN style="color:#444444">Click "</SPAN><STRONG>Federa</STRONG>l" from the left side of your screen&nbsp;</SPAN></SPAN></LI> <LI><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px"><SPAN style="color:#444444">Scroll down to "</SPAN><STRONG>Less Common Income</STRONG>" and click "<STRONG>Show More</STRONG>"&nbsp;</SPAN></SPAN></LI> <LI><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px"><SPAN style="color:#444444">Click "</SPAN><STRONG>Start</STRONG>" to the right of "<STRONG><SPAN style="color:#444444">Gambling</SPAN></STRONG><STRONG><SPAN style="color:#444444"> Winnings</SPAN></STRONG><SPAN style="color:#444444">" and click "</SPAN><STRONG>Yes</STRONG>"&nbsp;</SPAN></SPAN></LI> <LI><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px"><SPAN style="color:#444444">From here TurboTax will walk you through entering your </SPAN><STRONG><SPAN style="color:#444444">Gambling</SPAN></STRONG><STRONG><SPAN style="color:#444444"> Winnings</SPAN></STRONG><SPAN style="color:#444444">, with or without a </SPAN><STRONG>Form W2G</STRONG>&nbsp;</SPAN></SPAN></LI> <LI><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px"><SPAN style="color:#444444">As you walk through this section, you will also be asked about your</SPAN><STRONG> </STRONG><STRONG><SPAN style="color:#444444">Gambling</SPAN></STRONG><STRONG><SPAN style="color:#444444"> Losses</SPAN></STRONG>&nbsp;</SPAN></SPAN></LI> </UL> <P>&nbsp;</P> Thu, 26 Dec 2019 19:25:44 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-gambling-win-loss/01/969576#M109786 RachelW33 2019-12-26T19:25:44Z Re: Gambling win/loss https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-gambling-win-loss/01/969689#M109798 <P>Thank you! Appreciate your answer.</P> Thu, 26 Dec 2019 23:02:10 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-gambling-win-loss/01/969689#M109798 mtillinghast 2019-12-26T23:02:10Z
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topic Re: Gambling win/loss in Deductions & credits
</title>
<link>
https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-gambling-win-loss/01/969576#M109786
</link>
<description>
<P><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px">You will receive a<STRONG> Form W2-G</STRONG>&nbsp;reporting your gambling winnings and the federal and state taxes withheld.&nbsp; Your gross winnings and your federal and state withholding should be reported on your tax returns.&nbsp; If you itemize your deductions on <U>Schedule A</U>, you will be able to deduct&nbsp;your gambling losses,<STRONG><EM> up to the amount</EM></STRONG> of your gambling winnings.&nbsp;&nbsp;<SPAN style="color:#444444">  For more information, check out this TurboTax article: </SPAN><A href="https://turbotax.intuit.com/tax-tips/jobs-and-career/can-you-claim-gambling-losses-on-your-taxes/L4lQ3IAWt" target="_blank"><SPAN style="color:blue">Deducting Gambling Losses</SPAN></A><SPAN style="color:#444444">.</SPAN>&nbsp;</SPAN></SPAN></P> <P>&nbsp;</P> <P><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px"><SPAN style="color:#444444">To enter your</SPAN><STRONG> </STRONG><STRONG><SPAN style="color:#444444">Gambling</SPAN></STRONG><STRONG><SPAN style="color:#444444"> Winnings and Losses&nbsp;</SPAN></STRONG><SPAN style="color:#444444">in TurboTax Online</SPAN><SPAN style="color:#444444">, please follow these instructions: </SPAN>&nbsp;</SPAN></SPAN></P> <UL> <LI><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px"><SPAN style="color:#444444">Sign In to TurboTax Online</SPAN>&nbsp;</SPAN></SPAN></LI> <LI><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px"><SPAN style="color:#444444">Click "</SPAN><STRONG>Take Me to my Return</STRONG>"&nbsp;</SPAN></SPAN></LI> <LI><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px"><SPAN style="color:#444444">Click "</SPAN><STRONG>Federa</STRONG>l" from the left side of your screen&nbsp;</SPAN></SPAN></LI> <LI><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px"><SPAN style="color:#444444">Scroll down to "</SPAN><STRONG>Less Common Income</STRONG>" and click "<STRONG>Show More</STRONG>"&nbsp;</SPAN></SPAN></LI> <LI><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px"><SPAN style="color:#444444">Click "</SPAN><STRONG>Start</STRONG>" to the right of "<STRONG><SPAN style="color:#444444">Gambling</SPAN></STRONG><STRONG><SPAN style="color:#444444"> Winnings</SPAN></STRONG><SPAN style="color:#444444">" and click "</SPAN><STRONG>Yes</STRONG>"&nbsp;</SPAN></SPAN></LI> <LI><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px"><SPAN style="color:#444444">From here TurboTax will walk you through entering your </SPAN><STRONG><SPAN style="color:#444444">Gambling</SPAN></STRONG><STRONG><SPAN style="color:#444444"> Winnings</SPAN></STRONG><SPAN style="color:#444444">, with or without a </SPAN><STRONG>Form W2G</STRONG>&nbsp;</SPAN></SPAN></LI> <LI><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px"><SPAN style="color:#444444">As you walk through this section, you will also be asked about your</SPAN><STRONG> </STRONG><STRONG><SPAN style="color:#444444">Gambling</SPAN></STRONG><STRONG><SPAN style="color:#444444"> Losses</SPAN></STRONG>&nbsp;</SPAN></SPAN></LI> </UL> <P>&nbsp;</P>
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<pubDate>Thu, 26 Dec 2019 19:25:44 GMT</pubDate>
<dc:creator>RachelW33</dc:creator>
<dc:date>2019-12-26T19:25:44Z</dc:date>
<item>
<title>Gambling win/loss</title>
<link>
https://ttlc.intuit.com/community/tax-credits-deductions/discussion/gambling-win-loss/01/969533#M109773
</link>
<description>
<P>Hello,</P><P>What if I had gambling winnings during the year and had the casino withhold taxes for federal and state, then at the end of the year get a win/loss statement and see that losses were greater than winnings. How would that be reported when doing 2019 taxes? Thank you.</P>
</description>
<pubDate>Thu, 26 Dec 2019 17:27:29 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/tax-credits-deductions/discussion/gambling-win-loss/01/969533#M109773
</guid>
<dc:creator>mtillinghast</dc:creator>
<dc:date>2019-12-26T17:27:29Z</dc:date>
</item>
<item>
<title>Re: Gambling win/loss</title>
<link>
https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-gambling-win-loss/01/969573#M109784
</link>
<description>
<P class="p1"><SPAN class="s1"><STRONG>Gambling</STRONG></SPAN></P> <P class="p2"><SPAN class="s1"><STRONG>To enter the W-2G<SPAN class="Apple-converted-space">&nbsp; </SPAN>or other documents </STRONG>For your Gambling winnings--Go to Federal&gt;Wages &amp; Income&gt;Less Common Income&gt;Gambling Winnings</SPAN></P> <P class="p3"><SPAN class="s1">You can enter your winnings, and then keep clicking through the interview to enter gambling losses.</SPAN></P> <P class="p4">&nbsp;</P> <P class="p3"><SPAN class="s2"><A href="https://www.irs.gov/help/ita/how-do-i-claim-my-gambling-winnings-and-or-losses" target="_blank">https://www.irs.gov/help/ita/how-do-i-claim-my-gambling-winnings-and-or-losses</A></SPAN></P> <P class="p4">&nbsp;</P> <P class="p3"><SPAN class="s1">Losses are an itemized deduction.<SPAN class="Apple-converted-space">&nbsp; </SPAN>If you do not have enough itemized deductions to exceed your standard deduction, your losses will have no effect.</SPAN></P> <P class="p2"><SPAN class="s2"><A href="https://blog.turbotax.intuit.com/income-and-investments/how-are-gambling-winnings-taxed-8891/" target="_blank">https://blog.turbotax.intuit.com/income-and-investments/how-are-gambling-winnings-taxed-8891/</A></SPAN></P> <P class="p5">&nbsp;</P> <P class="p2"><SPAN class="s2"><A href="https://ttlc.intuit.com/questions/1900352-can-i-deduct-my-gambling-losses" target="_blank">https://ttlc.intuit.com/questions/1900352-can-i-deduct-my-gambling-losses</A></SPAN></P>
</description>
<pubDate>Thu, 26 Dec 2019 19:20:19 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-gambling-win-loss/01/969573#M109784
</guid>
<dc:creator>xmasbaby0</dc:creator>
<dc:date>2019-12-26T19:20:19Z</dc:date>
</item>
<item>
<title>Re: Gambling win/loss</title>
<link>
https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-gambling-win-loss/01/969576#M109786
</link>
<description>
<P><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px">You will receive a<STRONG> Form W2-G</STRONG>&nbsp;reporting your gambling winnings and the federal and state taxes withheld.&nbsp; Your gross winnings and your federal and state withholding should be reported on your tax returns.&nbsp; If you itemize your deductions on <U>Schedule A</U>, you will be able to deduct&nbsp;your gambling losses,<STRONG><EM> up to the amount</EM></STRONG> of your gambling winnings.&nbsp;&nbsp;<SPAN style="color:#444444">  For more information, check out this TurboTax article: </SPAN><A href="https://turbotax.intuit.com/tax-tips/jobs-and-career/can-you-claim-gambling-losses-on-your-taxes/L4lQ3IAWt" target="_blank"><SPAN style="color:blue">Deducting Gambling Losses</SPAN></A><SPAN style="color:#444444">.</SPAN>&nbsp;</SPAN></SPAN></P> <P>&nbsp;</P> <P><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px"><SPAN style="color:#444444">To enter your</SPAN><STRONG> </STRONG><STRONG><SPAN style="color:#444444">Gambling</SPAN></STRONG><STRONG><SPAN style="color:#444444"> Winnings and Losses&nbsp;</SPAN></STRONG><SPAN style="color:#444444">in TurboTax Online</SPAN><SPAN style="color:#444444">, please follow these instructions: </SPAN>&nbsp;</SPAN></SPAN></P> <UL> <LI><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px"><SPAN style="color:#444444">Sign In to TurboTax Online</SPAN>&nbsp;</SPAN></SPAN></LI> <LI><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px"><SPAN style="color:#444444">Click "</SPAN><STRONG>Take Me to my Return</STRONG>"&nbsp;</SPAN></SPAN></LI> <LI><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px"><SPAN style="color:#444444">Click "</SPAN><STRONG>Federa</STRONG>l" from the left side of your screen&nbsp;</SPAN></SPAN></LI> <LI><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px"><SPAN style="color:#444444">Scroll down to "</SPAN><STRONG>Less Common Income</STRONG>" and click "<STRONG>Show More</STRONG>"&nbsp;</SPAN></SPAN></LI> <LI><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px"><SPAN style="color:#444444">Click "</SPAN><STRONG>Start</STRONG>" to the right of "<STRONG><SPAN style="color:#444444">Gambling</SPAN></STRONG><STRONG><SPAN style="color:#444444"> Winnings</SPAN></STRONG><SPAN style="color:#444444">" and click "</SPAN><STRONG>Yes</STRONG>"&nbsp;</SPAN></SPAN></LI> <LI><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px"><SPAN style="color:#444444">From here TurboTax will walk you through entering your </SPAN><STRONG><SPAN style="color:#444444">Gambling</SPAN></STRONG><STRONG><SPAN style="color:#444444"> Winnings</SPAN></STRONG><SPAN style="color:#444444">, with or without a </SPAN><STRONG>Form W2G</STRONG>&nbsp;</SPAN></SPAN></LI> <LI><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px"><SPAN style="color:#444444">As you walk through this section, you will also be asked about your</SPAN><STRONG> </STRONG><STRONG><SPAN style="color:#444444">Gambling</SPAN></STRONG><STRONG><SPAN style="color:#444444"> Losses</SPAN></STRONG>&nbsp;</SPAN></SPAN></LI> </UL> <P>&nbsp;</P>
</description>
<pubDate>Thu, 26 Dec 2019 19:25:44 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-gambling-win-loss/01/969576#M109786
</guid>
<dc:creator>RachelW33</dc:creator>
<dc:date>2019-12-26T19:25:44Z</dc:date>
</item>
<item>
<title>Re: Gambling win/loss</title>
<link>
https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-gambling-win-loss/01/969689#M109798
</link>
<description><P>Thank you! Appreciate your answer.</P></description>
<pubDate>Thu, 26 Dec 2019 23:02:10 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-gambling-win-loss/01/969689#M109798
</guid>
<dc:creator>mtillinghast</dc:creator>
<dc:date>2019-12-26T23:02:10Z</dc:date>
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