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Returning Member
posted Apr 1, 2024 1:19:41 PM

how to allocate w2-g to my schedule c

I file as professional gambler.   How do I get turbo tax to put my w2-g earnings on my schedue c?

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1 Replies
Expert Alumni
Apr 1, 2024 3:48:04 PM

There is no way to link the income reported on your W-G form to your schedule C. What you can do is report the gambling winnings like you normally would, in the Less Common Income section of TurboTax, then put in a negative adjustment to income to back the income out. Then, enter your winnings in the self-employed income section of TurboTax as "General Income" not reported on a 1099 form.

 

You can make that adjusting entry in TurboTax as follows:

 

1. From the Federal menu in TurboTax find Wages and Income 

2. Find Less Common Income

3. Choose Miscellaneous Income, 1099-A, 1099-C

4. Choose Other Reportable Income

5. Enter a description of the adjustment and the adjustment as a negative number