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New Member
posted Feb 23, 2025 4:55:36 PM

How do i get back to the section to add a lottery winnings?

My taxes are complete except for lottery winnings. How do I add this?

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2 Replies
Level 15
Feb 23, 2025 4:59:04 PM

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/

 

 

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)

Expert Alumni
Feb 23, 2025 4:59:31 PM

To add your lottery winnings:

 

  1. Open your return
  2. Go to W-2G.
  3. Answer Yes on the Did you win money or other prizes in 2024? Screen
  4. Follow the instructions to enter your W-2G.