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KGB3
Level 2

TurboTax 2022

I am looking for the entry on schedule A to enter losses from Gambling.  I don't see it.

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4 Replies

TurboTax 2022

Gambling

To enter the W-2G  or other documents For your Gambling winnings--Go to Federal>Wages & Income>Less Common Income>Gambling Winnings

You can enter your winnings, and then keep clicking through the interview to enter gambling losses.

 

https://www.irs.gov/help/ita/how-do-i-claim-my-gambling-winnings-and-or-losses

 

Gambling winnings are taxable income.  Losses are an itemized deduction.  If you do not have enough itemized deductions to exceed your standard deduction, your losses will have no effect.

https://blog.turbotax.intuit.com/income-and-investments/how-are-gambling-winnings-taxed-8891/

 

https://ttlc.intuit.com/questions/1900352-can-i-deduct-my-gambling-losses

 

 

 

 

2022 STANDARD DEDUCTION AMOUNTS

 

SINGLE $12,950  (65 or older + $1750)

 

MARRIED FILING SEPARATELY $12,950  (65 or older + $1750)

 

MARRIED FILING JOINTLY $25,900  (65 or older + $1400 per spouse)

 

HEAD OF HOUSEHOLD  $19,400  (65 or older +$1750)

 

Legally Blind + $1750

 

 

 

 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
KGB3
Level 2

TurboTax 2022

Thanks, however I have entered my winnings.  I chose Itemized deductions but I don't where to enter Gambling losses.

In prior years, under Other Deductions and Credits, there was a line item for losses.  I don't see it.

TurboTax 2022

@KGB3 After you enter your winnings you have to keep going through the screens to enter losses.   Again----if you do not have enough  itemized deductions to exceed your standard deduction the losses have NO effect.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
KGB3
Level 2

TurboTax 2022

Thanks, the return asked me this time when I entered it.

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