Do I have to fret about my W-2 G form, if I use the standard deduction? Thank You.

dmbornstein — Tue, 03 Feb 2026 12:41:19 GMT

Re: Do I have to fret about my W-2 G form, if I use the standard deduction? Thank You.

VolvoGirl — Fri, 07 Feb 2025 00:41:29 GMT

You have to report and enter the W2-G whether you take the Standard Deduction or itemize deductions. Do you have other income?

Re: Do I have to fret about my W-2 G form, if I use the standard deduction? Thank You.

Vanessa A — Fri, 07 Feb 2025 00:43:31 GMT

Yes. You will still need to enter your gambling winnings, whether or not you claim the gambling losses. Gambling losses are only able to be considered if you itemize your return. If you do not itemize, then only your winnings are reported. If you do not have enough gambling expenses and other deductible expenses to be larger than your standard deduction, then you would not benefit from itemizing.

Itemized expenses include mortgage interest, gambling losses up to winnings, charitable contributions, state and local taxes up to $10,000, medical expenses in excess of 7.5% of your AGI and casualty and losses in excess of 10% of you AGI with the first $100 not counting towards the loss. Your health insurance and all medical expenses are only deductible for the amount that is over 7.5% of your AGI. This means if your AGI is $50,000, then the amount that is over $3,750 is deductible.

The 2024 Standard Deductions are as follows:

Married Filing Joint (MFJ) $29,200
Married Filing Separate (MFS) $14,600
Head of Household (HOH) $21,900
Single $14,600

Blind or over 65 and MFJ or MFS add $1,550

Single or HOH if blind or over 65 add $1,950

Standard versus Itemized Deduction

topic Do I have to fret about my W-2 G form, if I use the standard deduction? Thank You. in Deductions & credits

Do I have to fret about my W-2 G form, if I use the standard deduction? Thank You.

Re: Do I have to fret about my W-2 G form, if I use the standard deduction? Thank You.

Re: Do I have to fret about my W-2 G form, if I use the standard deduction? Thank You.