gambling winnings

Forum|Forum|1 year ago
March 4, 2025
2 replies
14 views

Why do I need to upgrade TurboTax in order to report gambling winnings?

TurboTax Free Edition Online

xmasbaby0

Level 15

Gambling income goes to Schedule 1 which is not supported by the Free Edition. If you have gambling income you need to upgrade to a paid version of the software. Only very simple returns that do not require the use of Schedules 1, 2 or 3 can be prepared with the Free Edition.

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ThomasM125

Level 15

You can deduct gambling losses from gambling winnings, but they are reported on a Schedule A, itemized deductions, so you have to upgrade primarily to allow you to prepare the Schedule A. Also, the winnings are listed on a Schedule 1, which is another form and another reason you have to upgrade.

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