Filing with gambling winnings and gambling losses.
If I have gambling winnings w-2 to claim on my taxes and I also have gambling losses to claim, how do I file on FreeTaxUSA?
Answers
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Hi Savage1!
Gambling winnings and losses are located in separate areas of the software.
First, if you have gambling winnings on From W-2G, that is entered in our 2024 software by going to Income > Uncommon Income > Gambling Income (W-2G). Otherwise, if the winnings are not on a W-2G, you can enter the winnings by going to Income > Uncommon Income > Other Income. You will then need to mark Yes on "Gambling Income" where the software will ask for that information.
For losses, you will enter this by going to Deductions/Credits > Other Itemized Deductions. There is a box here that you can enter the amount of your gambling losses. Please note that this box will only be accessible if you have previously entered gambling income under the Income tab, as you can only deduct gambling losses up to your gambling income amount.
