Gambling looses

Forum|Forum|7 years ago
June 6, 2019
2 replies
7 views

Had big gambling losses in 2016 is this a deduction with proof from casino

TurboTax Free Edition Online

Best answer by xmasbaby0

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.

Gambling losses are an itemized deduction; you can only get a deduction if the combination of all of your other itemized deductions exceeds your standard deduction. Losses do not offset winnings dollar for dollar.

xmasbaby0

Answer

Level 15

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.

**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.**

null725

Level 13

You can claim gambling losses only as much as you claim gambling winnings and no more. You can not claim more gambling losses than you claim gambling winnings.