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No, you don't have to list the individual transactions; however, you do have to report all your gambling income.
Gambling losses are only allowed up to the amount of your gambling winnings. For example, if you had $9,000 of gambling losses and had $2,000 of gambling winnings, you can only deduct $2,000 of your losses (the amount of your winnings). If you had no winnings, you will not be able to deduct your losses.
Normally gambling winnings are reported on form W-2G. However you can enter your gambling or prize winnings in TurboTax (even if you didn't receive a W-2G) by following these steps:
[Edited | 3/18/2020 | 1:10 pm PDT]
No, you don't have to list the individual transactions; however, you do have to report all your gambling income.
Gambling losses are only allowed up to the amount of your gambling winnings. For example, if you had $9,000 of gambling losses and had $2,000 of gambling winnings, you can only deduct $2,000 of your losses (the amount of your winnings). If you had no winnings, you will not be able to deduct your losses.
Normally gambling winnings are reported on form W-2G. However you can enter your gambling or prize winnings in TurboTax (even if you didn't receive a W-2G) by following these steps:
[Edited | 3/18/2020 | 1:10 pm PDT]
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