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C
cmbatchelor
January 28, 2023
Question

Why is Turbotax telling me "Schedule Y: Sch Y, Gambling Losses should not be greater than $"?

  • January 28, 2023
  • 2 replies
  • 0 views
I already filed my federal return. I am now trying to file my state return. The $78 that I listed in box 17 is being carried over between returns. Turboxtax is telling me to check this entry. I have checked it, $78 is the correct amount. But it won't let me past this section - it's stating  "Schedule Y: Sch Y, Gambling Losses should not be greater than $?" What does not be greater than $ even mean? I do not understand.

    2 replies

    B
    BrittanyS
    January 30, 2023

    Gambling losses are tax deductible but only to the extent of your winnings.  Gambling Losses should not be greater than $ is more than likely referring to winnings.  You will want to verify that you are not claiming a loss higher than your winnings.  

     

    For more information on claiming gambling losses on your taxes, see the link below:

     

    Can you claim gambling losses on your taxes?

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    C
    cmbatchelorAuthor
    January 30, 2023

    I am not claiming a loss greater than winnings. It literally won't let me get past this section. Am I supposed to put $0 here? 

    G
    GeorgeM777
    January 30, 2023

    Because your tax issue relates to your state return, what state return are you trying to prepare and file?

     

    @cmbatchelor

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