Can we do the 1040 short form to claim our win and lose from the casino?

gboninnie · ‎June 6, 2019

want to go short form (1040 schedule 1) and need to know on our casino win and losses if we can still do that on the short form? we have the w-2g and the win- lose records.

Vanessa · ‎June 6, 2019

Yes, your gambling winnings are reported on line 21 of Schedule 1.

However, to deduct your gambling losses you would need to itemize your return which would require Schedule A and total itemized deductions greater than your standard deduction.

As for the short form, there is no short form per se, there is only one 1040 this year with several schedules attached.

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View solution in original post

Vanessa · ‎June 6, 2019

Yes, your gambling winnings are reported on line 21 of Schedule 1.

However, to deduct your gambling losses you would need to itemize your return which would require Schedule A and total itemized deductions greater than your standard deduction.

As for the short form, there is no short form per se, there is only one 1040 this year with several schedules attached.

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

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Can we do the 1040 short form to claim our win and lose from the casino?