In
TurboTax, the gambling winnings and losses are entered in the same area. See
the following instructions:
- Go to the Federal Taxes category in your TurboTax
account.
- Go to the Wages and
Income subcategory.
- Find the section
labeled "Less Common Income" in the main income list that is
labeled "Your Income".
- Click start or
update on the line labeled "Gambling Winnings".
- If you haven't
entered all of your W-2Gs yet, enter them on the screen labeled Form W-2G
summary. Otherwise click done on this screen.
- Click no on the
question about other winnings not reported on W-2G.
- Enter your gambling
losses on the subsequent screen labeled Gambling Losses. This screen will
input the deduction of Schedule A.
- Keep in mind that
gambling losses are also limited to the total of your gambling winnings
income.