Question

TurboTax 2022

Forum|Forum|3 years ago
February 21, 2023
1 reply
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I am looking for the entry on schedule A to enter losses from Gambling. I don't see it.

Employee

Gambling

To enter the W-2G or other documents For your Gambling winnings--Go to Federal>Wages & Income>Less Common Income>Gambling Winnings

You can enter your winnings, and then keep clicking through the interview to enter gambling losses.

https://www.irs.gov/help/ita/how-do-i-claim-my-gambling-winnings-and-or-losses

Gambling winnings are taxable income. Losses are an itemized deduction. If you do not have enough itemized deductions to exceed your standard deduction, your losses will have no effect.

https://blog.turbotax.intuit.com/income-and-investments/how-are-gambling-winnings-taxed-8891/

https://ttlc.intuit.com/questions/1900352-can-i-deduct-my-gambling-losses

2022 STANDARD DEDUCTION AMOUNTS

SINGLE $12,950 (65 or older + $1750)

MARRIED FILING SEPARATELY $12,950 (65 or older + $1750)

MARRIED FILING JOINTLY $25,900 (65 or older + $1400 per spouse)

HEAD OF HOUSEHOLD $19,400 (65 or older +$1750)

Legally Blind + $1750

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

K

KGB3Author

Thanks, however I have entered my winnings. I chose Itemized deductions but I don't where to enter Gambling losses.

In prior years, under Other Deductions and Credits, there was a line item for losses. I don't see it.

X

xmasbaby0

Employee

@KGB3 After you enter your winnings you have to keep going through the screens to enter losses. Again----if you do not have enough itemized deductions to exceed your standard deduction the losses have NO effect.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**