Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProConnect Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProConnect Hot Topics.
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- ProConnect Tax
- :
- ProConnect Tax Discussions
- :
- Gambling Losses
Gambling Losses
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
PauerHaus1
Level 1
03-10-2023
11:16 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Gambling losses are deductible (up to the extent of winnings) as an itemized deduction. When the winnings are reported on a W-2G no problem, but what about gambling winnings that are reported on a 1099 by the Casino. Can I offset these winnings also with losses and how would I report the 1099 in ProConnect where it would allow me to increase the losses to include the 1099 amounts?
Labels
1 Comment 1
PhoebeRoberts
Level 11
03-10-2023
11:32 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
The winnings on a 1099 aren't technically gambling winnings - they're prizes. No offset available, even if the client put them straight into a slot machine.
