Yes, if you have gambling winnings, they are reported
on Form W-2G. Gambling losses can be claimed against your
gambling winnings but only if you itemize your deduction and only up
to the total of reported gambling and prize winnings.
To enter gambling winnings and losses
income in TurboTax Online or
Desktop (for TurboTax Online sign-in, click Here),
please follow these steps:
- Once
you are in your tax return, click on the “Federal Taxes” tab
("Personal" tab in TurboTax Home & Business)
- Next click on “Wages &
Income” ("Personal Income" in TurboTax Home & Business)
- Next click on add more income
“I’ll choose what I work on” (jump to full list or see more income)
- Scroll down the screen until
to come to the section “Less Common Income”
- Choose “Gambling Winnings ”
and select “start’ (You will enter your gambling losses here also.)
Additionally, you may have a nonresident state
tax filing in the state where the gambling winnings were won. (You would only
have a nonresident state income tax filing requirement if that state
has a state income tax filing requirement and you meet the minimum income level
requirements for filing in that other state.)
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