I reside in WA and have gambling winnings to report for ID. I have purchased the ID State Turbo Tax. In the form there is a section to enter "Other Income" which is for gambling. My question: should the value I enter be the net amount (based on taxes taken at time of winning) or should I enter the gross amount before taxes?
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You would report the gross amount before taxes as your income from gambling.
Sounds good. Then when I proceed through the state turbo tax I come to a section that states "Idaho Lottery Winnings." When I click on the help item it states:
You can deduct Idaho lottery winnings of less than $600 per prize that are included in federal adjusted gross income.
Note: Lottery prizes from other states do not qualify for this deduction.
Is the underlined section above a typo, then, and should read: "...Idaho lottery winnings of more than..."
It seems that my federal withholding should go in this box, but doesn't seemed it's phrased correctly.
Thank you,
You can deduct Idaho lottery prizes of less than $600 each.
67-7439. TAXES. Income taxes shall only be imposed on lottery prizes received from lottery tickets purchased after the effective date of this act. Lottery prizes awarded by the Idaho state lottery under six hundred dollars ($600) shall not be subject to the state income tax.
See Title 67 State Government and State Affairs Chapter 74 Idaho State Lottery
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