If you have losses, after entering your winnings, continue through the screens to enter your gambling losses for the year. TurboTax will automatically determine if itemizing your losses provides a better tax outcome than taking the standard deduction based on your overall tax situation.
You can only deduct losses if you itemize your deductions on Schedule A. If you take the Standard Deduction, you cannot deduct any losses, but you must still report all winnings. Also, you cannot deduct more in losses than the total amount of winnings you report. To claim a deduction, the IRS requires you to keep an accurate diary or log of your winnings and losses, including dates, locations, and receipts or wagering tickets.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"