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?
Best Answer
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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.
Answers
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why don’t I see my loss on my State return (in my state I can deduct up to my winnings)
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It depends on the state, but in most cases not seeing gambling losses being deducted is likely because your state itemized deductions are less than your state standard deduction. I was able to pull open your account, and this appears to be the case in regard to your state (we don't discuss specifics in the community to protect your privacy).
