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Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 15607
Experience:  15years with H & R Block. Divisional leader, Instructor
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I have a W2g I received for $2000.00 However when I asked

Customer Question

I have a W2g I received for $2000.00 However when I asked for a win/loss statement from the casino they send me a winnings of $45,000.00 and wagers of 48,000.00 example with a loss of 6,877 I talked to the director of the casino and he said that is not actual money but their method do I use the win loss amounts on the 1040 line 28 and wager on sch a to itemize or the actual amounts I lost about $6,000.
Submitted: 1 year ago.
Category: Tax
Expert:  Robin D. replied 1 year ago.


You can use your actual losses but only up to the $2000 of winnings reported on that W2g. You also need to have kept a log of your gambling so you can show that if audited.

The win/loss statement would not be enough.

You should report your wins on 1040 as they are reported on the W2g and on your Schedule A you can only claim up to your winning amount on the losses.

The above link is to show the IRS resource on this subject.

If my answer addressed your question please rate below or above (let me know if you have difficulty as I believe the system changed), if you need more information reply below.