How to claim gambling losses

Answer

If you itemize instead of taking the standard deduction, you can deduct gambling losses up to the amount of your winnings. After your winnings have been entered the interview will ask about losses.

To enter your gambling winnings reported on a W-2G, please see the following TurboTax FAQ:

Here's where you enter Form W-2G (Certain Gambling Winnings) in TurboTax:

  1. Open your return in TurboTax, if you aren't already in it. (To do this, sign in to TurboTax and select the Take me to my return button.)
  2. In TurboTax, search for W2G (lower-case also works) and then select the "Jump to" link in the search results.
  3. Answer Yes on the Gambling Winnings screen and follow the onscreen instructions to enter your W-2G.

After you've finished entering all of your gambling winnings, we'll ask about any losses you may have had. Losses can be deducted up to the amount you reported winning, but only if you itemize.


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