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TaxWiznot
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What do i need to provide as proof of gambling losses

 
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LeeM
New Member

What do i need to provide as proof of gambling losses

According to the IRS and from the website here: https://turbotax.intuit.com/tax-tools/tax-tips/Taxes-101/Can-You-Claim-Gambling-Losses-on-Your-Taxes...

The IRS requires you to keep a diary of your winnings and losses as a prerequisite to deducting losses from your winnings. This includes:

  • lotteries
  • raffles
  • horse and dog races
  • casino games
  • poker games
  • and sports betting

Your diary must include:

  • the date and type of gambling you engage in
  • the name and address of the places where you gamble
  • the people you gambled with
  • and the amount you win and lose

Other documentation to prove your losses can include:

  • Form W-2G
  • Form 5754
  • wagering tickets
  • canceled checks or credit records
  • and receipts from the gambling facility
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