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cdevans77
New Member

How do you know what your loses are for gambling winnings on the w2g?

 
3 Replies
HelenC12
Employee Tax Expert

How do you know what your loses are for gambling winnings on the w2g?

Your W-2G does not show your gambling losses. If the winnings are from a casino, you may be able to request a win/loss statement from them.

 

The IRS requires you to keep a diary of your winnings and losses as a prerequisite to deducting losses from your winnings.

Related information:

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vince5585
New Member

How do you know what your loses are for gambling winnings on the w2g?

I entered a W2-G and my losses were same (actually greater) than the winnings....It didn't give me back the deduction.... WHY??

BillM223
Employee Tax Expert

How do you know what your loses are for gambling winnings on the w2g?

@vince5585, please read HelenC12's answer above. Note especially the link for "Can You Claim Gambling Losses on Your Taxes?"

 

When you are ready to enter your gambling losses (assuming you kept track of them), please do the following:

 

  • Open your return in TurboTax
  • Do a Search (upper right) for "gambling losses"
  • Click on the jump-to result
  • Enter your information here
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