turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

marge-jay
New Member

Do Ihave to put every W-2G in I have many and my losses are more than winnings

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
Patrice
New Member

Do Ihave to put every W-2G in I have many and my losses are more than winnings

Yes, you are required to report/file all your W2G income even if your losses are more than your winnings.   Gambling losses are ITEMIZED Deductions and will show up on Schedule A only if you itemize your deductions instead of taking the standard deduction. As such your gambling winning are not directly offset by the losses on a dollar for dollar basis. First you are only allowed to make a claim for gambling losses up to the amount of winnings.  

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question