When do i report a gambling win that was won on 3/5/2017 to irs? This year 2017? or 2018?

[JulieM]

If you won it in 2017 you will report it on 2018's taxes.

Money you won while gambling is usually reported on Form W2-G, Certain Gambling Winnings. Gambling losses can be deducted if you itemize, but only up to the amount you reported winning.

For example, if you fed your local casino's slot machines $200 last year and won $50 of it back, you'd report $50 in winnings. You could then deduct $50 in losses (essentially wiping out $50 of taxable income) but only if you itemize.

On the other hand, if you don't itemize, or if the casino kept the entire $200, you cannot deduct anything.

After you enter all your W-2Gs in TurboTax, we'll ask you to enter your gambling losses.