Skip to main content
TurboTax
Community
TurboTax
Community
TurboTax
Community
R
ripsaige1
January 5, 2023
Question

If I have gambling winnings of 67000, but I gambled more then that. Can I claim up to 67000, or do I have to claim only what I lost after my winnings up to 67000.

  • January 5, 2023
  • 1 reply
  • 0 views
When I look at a win/loss statement it shows after my winnings, my loss is only 4700 at one casino. Do I only claim the 4700 or can I claim the total about I gambled?

1 reply

M
Mike9241
January 5, 2023

the tax laws say you need to report your gross winnings as income. losses and the cost of the bets are deductible on schedule A but can't exceed the gross winnings. Turbotax will do the limitation. 

TurboTax Sign In Widget
TurboTax flag icon

Unlock tailored help options in your account

Create an account
TurboTax Expert Assist
TurboTax Expert

Get answers to all your tax questions

Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Expert Assist.

Terms & ConditionsAccessibility statement
Intuit
TurboTax Credit Karma QuickBooks MailChimp

©1997-2022 Intuit, Inc. All rights reserved.
Intuit, QuickBooks, QB, TurboTax, ProConnect, and Mint are registered trademarks
of Intuit Inc. Terms and conditions, features, support, pricing, and service options
subject to change without notice.

Security Certification of the TurboTax Online application has been performed by
C-Level Security.

By accessing and using this page you agree to the Terms of Use.

Accessibility

TRUSTe nResult Certified e-File C-Level Security Certification