Normally gambling winnings are reported on form W-2G.
However you need to report your gambling or prize winnings as income in TurboTax (even if you
didn't receive a W-2G) by following these steps:
- Click on Federal Taxes >
Wages & Income [If you're in TT Self-Employed:
Personal > Personal Income ]
- In the Less Common Income
section , click on the Start/Update box next to gambling
winnings. [See Screenshot #1, below.]
- On the Gambling Winnings screen,
click the Yes box.
- On the screen, Tell Us About
Your Winnings, click the Skip W2-G box if Form W2g is not
issued. [Screenshot #2]
- On the next screen, Any Other
Gambling Winnings, click the Yes box. [Screenshot #3]
- You will be able to enter your
winnings in the Other Gambling Winnings screen. [Screenshot
#4]
- 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. [Screenshot #5]
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