You'll need to sign in or create an account to connect with an expert.
what do you mean please clarify. gamblers receive the form they don't file it.
If you received a Form W-G reporting your gambling winnings -
Gambling losses can only be deducted up to the amount of the gambling winnings. Gambling winnings are reported on Form 1040 Schedule 1 on Line 8 as Other Income. Gambling Losses are reported on Form 1040 Schedule A as a Miscellaneous itemized deduction. Gambling losses are not a one-for-one reduction in winnings. Your total itemized deductions reported on Form 1040 Schedule A must be greater than the standard deduction for your filing status to have any tax benefit.
To enter, edit or delete Gambling Winnings and Losses -
Or enter w2g in the Search box in the upper right of the program screen. Click on Jump to w2g
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
Paris12789
New Member
ksghayour
New Member
dingoeatspotatoes
New Member
SamPippenger
New Member
AJd4
Returning Member