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ebaugh5
New Member

Where do i enter gambling losses? I don't see the option under Deduction and Credits?

 
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1 Best answer

Accepted Solutions
JohnB5677
Expert Alumni

Where do i enter gambling losses? I don't see the option under Deduction and Credits?

Gambling losses are only deductible up to the amount of your winnings.  Accurate record must be maintained.

 

To post winnings losses

  1. On the left sidebar select Tax Tools
    1. If it doesn't appear, hit Tax Home
    2. Then deductions and credits
    3. It should now be available
  2. Select Tools
  3. In the green box click Topic Search
  4. Type Gambling
  5. From the drop Down pick Gambling Losses
  6. Continue through the interview.

Are Gambling Losses Deductible

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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1 Reply
JohnB5677
Expert Alumni

Where do i enter gambling losses? I don't see the option under Deduction and Credits?

Gambling losses are only deductible up to the amount of your winnings.  Accurate record must be maintained.

 

To post winnings losses

  1. On the left sidebar select Tax Tools
    1. If it doesn't appear, hit Tax Home
    2. Then deductions and credits
    3. It should now be available
  2. Select Tools
  3. In the green box click Topic Search
  4. Type Gambling
  5. From the drop Down pick Gambling Losses
  6. Continue through the interview.

Are Gambling Losses Deductible

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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