Form W-2G Certain Gambling Winnings

Form W-2G, Certain Gambling Winnings

• The requirements for reporting gambling winnings on Form W-2G depend on the type of gambling, amount of gambling winnings, and the ratios of winnings to the wager.
• Taxpayers will receive Form W-2G for gambling income they received during a tax period.
• Taxpayers with gambling winnings may write off their losses up to the amount they won, on SCH A as an itemized deduction.

Follow the instructions below to correctly enter the Form W-2G:

1. Select Add Form.

2. Begin by typing W-2G, into the search bar at the bottom of the All Forms and Schedules Menu.

3. Select Form W-2G. Double-click to add the form.

4. If a joint return, choose New Taxpayer's or New Spouse's Occurrence.

5. Complete the W-2G, filling in all applicable sections. 

Linking Form W-2G To Form 1040 or SCH C

Form W2-G must be linked to the appropriate form either Form 1040 Other Income or SCH C (Profit or loss from a business). Unless the taxpayer is a professional gambler link the W-2G to Form 1040 Other Income.

1. Select the Link to (1040 or SCH C) box in box 1 of Form W-2G.

2. Select Choices from the Active Options Window.

3. Select either 1040 Other Income- Gambling or SCH C. 

If linked to 1040 Other Income- Gambling you can view the linked income on Line 8b.

First ID and Second ID

The software requires a first and second id be entered on Form W2-G.

1. Enter driver's license or other state id.

2. Enter the taxpayer's SSN.