Cash raffle winnings

[DianeW777]

.Yes, every dollar you win is a taxable event for your federal tax return and possibly your state return.

• IRS Topic 419 Gambling Income and Losses

Enter the gambling winnings using the steps below.

1. Sign into your TurboTax Online/Mobile or TurboTax Desktop account
2. Select Tax Home  (on the left) > Income & Expenses > Less Common Income > Gambling Winnings > Start
   1. TurboTax Desktop start with Income > Less Common Income > Gambling Winnings
3. Follow the screen prompts based on your situation (reporting document or none)
4. Be prepared with your gambling losses as well but they may or may not affect your tax return.  If you itemize deductions it could help.