heathdurbin
Level 2
01-11-2022
02:12 PM
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Great answer, and this part is what he is asking about...
"However, Tax Court determined the amount of unreported gambling winnings was $1,100. The decision stated that computing wins and losses for each separate wager was too burdensome, and “the fluctuating wins and losses left in play are not accessions to wealth until the taxpayer redeems his or her tokens and can definitively calculate the amount above or below basis (the wager) realized.” (Shollenberger v. Commissioner, T.C. Memo 2009-306)"
So in one session, I won $2,000 and got a W-2g, how in turbo tax (or other Intuit software) do I document that even though I had a $2,000 W-2g, I'm only table able on the net of $1,100?