Gambling drawing winning received 1099 not W-2G

[bentak]

2023 tax return questions
I received a 1099-misc for prize winning at the casino. I have much more losses at the
casino that exceeded the value of the cash prize. This year I filed itemized deductions
option because itemized deductions exceeded the standard deduction. I reported
1099-misc as income, but I couldn’t find where to report as a loss for that amount on
the TurboTax online. Therefore I sent it without claiming as a loss. According to my
friend (CPA), I should have recorded same as W-2G loss. My win/loss statement
shows I lost many times more. I am aware I can only deduct the loss amount up to the
winnings. Should I file an amended return? If I can report 1099-misc same as W-2G,
the difference will be approx. $1600 (refund) .Thank you so much for your help.

[DoninGA · Accepted solution]

Did you use the section in TurboTax to report Gambling Winnings?  If so, you were also asked to enter your losses which would have reported on Schedule A as Other Itemized Deductions on Line 16.

To enter, edit or delete Gambling Winnings and Losses -

Click on Federal Taxes (Personal using Home and Business)
Click on Wages and Income (Personal Income using Home and Business)
Click on I'll choose what I work on (if shown)
Scroll down to Less Common Income
On Prizes, Awards, and Gambling Winnings, click the start or update button

[DianeW777 · Accepted solution]

Yes, you should file an amendment if you itemized deductions and did not enter your losses.  

You will be able to access and file an amended return now (Form 1040-X). Be sure to read all the instructions carefully, before you begin, so that TurboTax knows the original numbers and the changed numbers for your amendment.

• How to amend (change or correct) a return already filed?
• What is the deadline for filing an amended return?
• How to file an amended return with the IRS

[bentak]

Dear Donin

Thank you so much for your help.