Where to enter gambling winnings and losses

See here for an overview of gambling income.

Gambling winnings

To enter gambling winnings in Tax Processors Plus Online, from the Federal Section of the tax return (Form 1040) select:

• Income
• Other Income
• Gambling Winnings W2-G
• Select Taxpayer or Spouse, if needed.
• Enter all information from Form W-2G.
• If there are any losses, enter those in the space provided.

Gambling losses

As noted above, gambling losses related to the winnings reported on Form W-2G can be entered in the same menu as the W-2G, and the losses will flow to Schedule A. Otherwise, to enter gambling losses directly into Schedule A in Tax Processors Plus Online, from the Federal Section of the tax return (Form 1040) select:

• Deductions
• Itemized Deductions
• Other Itemized Deductions
• Gambling Losses to the Extent of Gambling Winnings - Enter the amount of the losses as a positive number.

Losses entered in the Form W-2G window are added to losses entered in Schedule A, so be careful not to duplicate your entries.

Gambling income and loss not reported on Form W-2G

To report gambling income and losses not reported on Form W-2G in Tax Processors Plus Online, from the Federal Section of the tax return select:

• Income
• Other Income
• Other Compensation
• Other Gambling Income not reported on W-2G

NOTE: This is a guide on entering gambling winnings and losses in Tax Processors Plus Online. This is not intended as tax advice.