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New Member
posted Jan 9, 2025 6:26:13 AM

Do I have to upgrade from free to deluxe because I have a W-2G to report?

My question wasn't answered why do I have to upgrade because I have a W-2G?

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2 Replies
Level 15
Jan 9, 2025 6:39:00 AM

Yes---you will need online Deluxe if you have a W-2G.  You cannot enter a W-2G using the Free Edition.

 

 

Gambling

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/

 

https://ttlc.intuit.com/questions/1900352-can-i-deduct-my-gambling-losses

 

 

 

 

 

2024 STANDARD DEDUCTION AMOUNTS

SINGLE $14,600    (65 or older/legally blind + $1950)

MARRIED FILING SEPARATELY $14,600    (65 or older/legally blind + $1550)

MARRIED FILING JOINTLY $29,200    (65 or older/legally blind + $1550)

HEAD OF HOUSEHOLD $21,900    (65 or older/legally blind + $1950)

 

 

 

Level 15
Jan 9, 2025 6:39:40 AM

Gambling income and expenses is not support by the Free online edition.  You have to upgrade to the Deluxe edition to report your gambling income/losses.