I don't understand how to report the gambling winnings if i did not recieve a w2g. Also how much do i report? The net earnings or how much i actually recieved?
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You will report your gambling winnings based upon your records you will report how the amount you actually won not your net winnings
You will enter your lottery winnings in TurboTax Deluxe
With TurboTax open select the Wages & Income Tab.
Scroll down to Less Common Income and select start on the line for gambling willings
Follow the program prompts TurboTax will walk you through entering your lottery winnings.
You may deduct gambling losses only if you itemize your deductions on Form 1040, Schedule A. The amount of losses you deduct can't be more than the amount of gambling income you reported on your return.
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