gambling losses vs winnings

[loyknight]

My 2020 turbo tax premier indicates it is up to date.  But it just, in a return using standard deduction, netted gambling losses and winnings...  ie, it showed the difference between the two on 1040 as gambling losses.

is this a know problem?

[DoninGA]

It is showing the net of winnings and losses on the Wage & Income page, however on your actual tax return only the winnings are reported on Form 1040 Line 8 and Schedule 1 Line 8.  Click on Forms to view your tax return.

This will be reported to the TurboTax Moderators of the forum.

[loyknight]

yes you're correct.. but why show misleading numbers???  misleading...at best

[DoninGA]

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@loyknight wrote:

yes you're correct.. but why show misleading numbers???  misleading...at best

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That would be a software bug that should be corrected in a future update.

[AmeliesUncle]

The summary screens are frequently misleading.  You need to look at the actual tax return to see what is showing up.