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February 3, 2020
Question

I won $1,300 + at a casino in Oklahoma. My win/loss statement shows 350 for 2019. Where do I record this amount on my tax form?

  • February 3, 2020
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1 reply

February 3, 2020

 

You are allowed to take your gambling losses to offset any winnings (up to the amount of your winnings).

 

Normally gambling winnings are reported on form W-2G.  However you can enter your gambling or prize winnings in TurboTax (even if you didn't receive a W-2G) by following these steps:

  1. Click on Federal > Wages & Income   
  2. In the Less Common Income section , click on the Start/Update box next to gambling winnings. 
  3. On the Gambling Winnings screen, click the Yes box.
  4. On the screen, Let's get your W-2G info, click the appropriate box (received a W-2G or not).
  5. Enter the information about your gambling winnings.
  6. On the screen, Let us know if you had any gambling losses in 2019, you can enter the amount of your gambling losses.