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gambling income received as form 1099-misc

I received a gambling income form 1099-misc.

where do show the income and losses

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1 Best answer

Accepted Solutions
AlanT222
Expert Alumni

gambling income received as form 1099-misc

To enter your gambling winnings and losses in TurboTax, please follow these steps:

  1. Click on Federal Taxes > Wages & Income 
  2. In the Less Common Income section , click on the Start/Update box next to gambling winnings.  
  3. On the Gambling Winnings screen, click the Yes box.
  4. On the screen, Tell Us About Your Winnings, click the Skip W2-G box if Form W2g is not issued.  
  5. On the next screen, Any Other Gambling Winnings, click the Yes box.  
  6. You will be able to enter your winnings in the Other Gambling Winnings screen. 
  7. Since gambling losses can be deducted as an itemized deduction up to the total of reported gambling and prize winnings, enter your losses (if any) on the next screen, Gambling Losses

 

 

 

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2 Replies
AlanT222
Expert Alumni

gambling income received as form 1099-misc

To enter your gambling winnings and losses in TurboTax, please follow these steps:

  1. Click on Federal Taxes > Wages & Income 
  2. In the Less Common Income section , click on the Start/Update box next to gambling winnings.  
  3. On the Gambling Winnings screen, click the Yes box.
  4. On the screen, Tell Us About Your Winnings, click the Skip W2-G box if Form W2g is not issued.  
  5. On the next screen, Any Other Gambling Winnings, click the Yes box.  
  6. You will be able to enter your winnings in the Other Gambling Winnings screen. 
  7. Since gambling losses can be deducted as an itemized deduction up to the total of reported gambling and prize winnings, enter your losses (if any) on the next screen, Gambling Losses

 

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

gambling income received as form 1099-misc

Thanks

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