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New Member
posted Jan 20, 2022 8:17:31 PM

If casino jackpot winnings were taxed upon winning, do I get any kind of return on that?

I won three seperate jackpots last year totaling roughly $6000. I had them take out state and federal on the spot all three times. Can I get any of that back on my return? Do I need to do anything on my end?

0 6 5372
6 Replies
Expert Alumni
Jan 20, 2022 8:34:04 PM

You need to report the gambling winnings, in the Less Common Income section in TurboTax, and then Gambling Winnings. You will be prompted to enter the gambling losses you sustained as well, provided you have receipts to support them. You can deduct the losses up to the amount of money you won, but only if you can benefit from itemizing your deductions, as opposed to taking the standard deduction.

 

You will be prompted to report any taxes withheld from your winnings, and they will be subtracted from your income tax, so you will get credit for them.

@rustyguest

[Edited 1/20/22 8:36 PM EST]

Alumni
Jan 20, 2022 8:34:57 PM

Just enter your W-2G forms as issued. If your marginal tax rate is below rate withheld, you'll get some money back.

Level 15
Jan 20, 2022 9:14:13 PM

The tax on your gambling winnings is not calculated separately from your other income. On your tax return, all your income is added up and the tax for the year is calculated on your total income. The amount that's calculated on your tax return is the tax that you actually pay on your total income.


The tax that you had withheld from your winnings is an advance payment towards the total tax that's calculated on your tax return. It is not specifically tax on the winnings. The total tax withheld during the year, from all income sources, is applied to the total tax calculated on your tax return. If the tax that was withheld is more than your actual tax, you get a refund of the overpayment. If the tax withheld is less than your actual total tax, you have to pay the difference.

 

Level 15
Jan 20, 2022 11:40:43 PM

you should have gotten w-2g's because of the amount of the winnings and withholding.  those forms would n be filed by the gambling establishment with the IRS and state 

if you don't have those w-2gs your going to have problems claiming the withholding because with no in for the casino entered, the IRS won't be able to match what you claim with what's on file for you.

 

you may want to go to the IRS website, register and then get a tax transcript to see if there was reporting. you may be able to use that info on your return if you don't have those tax forms but only if you e-file.

https://sa.www4.irs.gov/secureaccess/ui/?TYPE=33554433&REALMOID=06-00008e4d-63f6-1187-a229-7c2b0ad00000&GUID=&SMAUTHREASON=0&METHOD=GET&SMAGENTNAME=-SM-u0ktItgVFneUJDzkQ7tjvLYXyclDooCJJ7%2bjXGjg3YC5id2x9riHE98hoVgd1BBv&TARGET=-SM-http%3a%2f%2fsa%2ewww4%2eirs%2egov%2ficce--core%2fload%2fgettrans%2fpages%2favailableTranscripts%2exhtml 

 

New Member
Jan 30, 2025 7:29:01 AM

Do I have to file an Oklahoma return also?

Employee Tax Expert
Jan 30, 2025 7:31:23 AM

If you won the money in OK or live in OK, then yes, it would be taxable income for OK as well as federal.  

All income, including gambling income is taxable by the federal government, and the state earned in as well as the state you live in (unless it is a state with no income tax or with reciprocity between the states you live and work in).