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cant find where to enter gambling losses. I am currently itemizing, have my 1099-misc gambling winnings entered, but can't find losses.

 
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cant find where to enter gambling losses. I am currently itemizing, have my 1099-misc gambling winnings entered, but can't find losses.

To enter the W-2G  or other documents For your Gambling winnings--Go to Federal>Wages & Income>Less Common Income>Gambling Winnings

You can enter your winnings, and then keep clicking through the interview to enter gambling losses.

 

https://www.irs.gov/help/ita/how-do-i-claim-my-gambling-winnings-and-or-losses

 

Gambling winnings are taxable income.  Losses are an itemized deduction.  If you do not have enough itemized deductions to exceed your standard deduction, your losses will have no effect.

https://blog.turbotax.intuit.com/income-and-investments/how-are-gambling-winnings-taxed-8891/

 

 

2025 STANDARD DEDUCTION AMOUNTS

SINGLE $15,750  (65 or older/legally blind + $2000)

MARRIED FILING SEPARATELY $15,750  (65 or older/legally blind +1600)

MARRIED FILING JOINTLY $31,500  (65 or older/legally blind + $1600)

HEAD OF HOUSEHOLD $23,625 (65 or older/legally blind + $2000)

 

 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
PatriciaV
Expert Alumni

cant find where to enter gambling losses. I am currently itemizing, have my 1099-misc gambling winnings entered, but can't find losses.

If you itemize instead of taking the Standard Deduction, you can deduct gambling losses up to the amount of your winnings. TurboTax will ask you about your losses after you enter Form W2-G under Less Common Income >> Prizes, Awards, and Gambling Winnings.

 

You won't be able to deduct gambling losses if you lost more money than you won (excess losses) or if you're taking the Standard Deduction. For example, if you have $5,000 in winnings but $7,000 in losses, your deduction is limited to $5,000.

 

 

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