Can I still do the taxes myself even if I have many gambling winnings? but I also have more losses gambling

[CherylW · Accepted solution]

I'll bet you can.

To report gambling winnings:

1.  Click Federal on the left-hand side menu.

2.  Click Income across the top.

3.  Scroll down to Less Common Income and click Show more.

4.  Click Start or Revisit by Gambling Winnings.

After you report your winnings, you'll see a screen (see below) that asks for your gambling losses.

You can only take losses in the amount of what you won.  So if you won $100, you could only take $100 in losses, and only then on Schedule A as an itemized deduction.  You also have to have more in total deductions to get more than what the government gives you for your standard deduction.

Good luck!