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$46K total in casino gambling in 2020, lost over $70K will I
$46K total in casino gambling in 2020, lost over $70K will I have to pay taxes on the winnings in California … read more
JeffS6413
JeffS6413
Principal/Advisor
Master's Degree
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If I went to Casino A and won $10,000 and lost $5,000, then
If I went to Casino A and won $10,000 and lost $5,000, then went to Casino B and lost $3,000... can I report $8000 losses from my itemized deductions?… read more
Fred Rook
Fred Rook
Corporate Controller
BSBA
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I got two expert from your place and their answer is not
I got two expert from your place and their answer is not very convincing.I gamble a lot. Almost every weekend. I lost over $60,000 but I got a 1099 Misc box 3 for a winning of a drawing from the casin… read more
Barbara
Barbara
Enrolled Agent, Paralegal
24,637 satisfied customers
We received a letter from the IRS regarding gambling income
We received a letter from the IRS regarding gambling income from 2017. My wife woman around $3000 at a casino and we forgot to claim it with our other income. Tropicana reported it to the IRS. It was … read more
Tax.appeal.168
Tax.appeal.168
Principal
8,236 satisfied customers
For the tax year 2018, I won around $4,100 in jackpots at
For the tax year 2018, I won around $4,100 in jackpots at the casino. When it came time to file taxes I received a win loss statement from the casino showing that even though I won around $4,100 in ja… read more
PhillipsEsq.
PhillipsEsq.
Attorney-at-Law
JD
877 satisfied customers
I am about to file my 2017 personal income taxes, can i
I am about to file my 2017 personal income taxes, can i still report previous gambling losses from previous years on my personal income tax?? … read more
Barbara
Barbara
Enrolled Agent, Paralegal
24,637 satisfied customers
I lost over 200000 cash in casino? what should i do, do i
i lost over 200000 cash in casino? what should i do … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
24,361 satisfied customers
One of my clients won at the casino in WV. We are in VA.
One of my clients won at the casino in WV. We are in VA. Does she pay taxes on the win - she received a W-2G; and, if so what form does she use. … read more
Lev
Lev
44,607 satisfied customers
Can winnings recorded on form W2-G for winnings at an Indian
can winnings recorded on form W2-G for winnings at an Indian casino be counted as losses as well. Say $50,000 in winnings. Can I claim $50,000 as well. And what type of documentation is required. Winn… read more
Charles Markham
Charles Markham
Principal
Masters Science Taxation
775 satisfied customers
my questions is about gambling. I had a loss year but
my questions is about gambling. I had a loss for the year but my accountant has informed me that if I win 2000.00 at one casino and then go to another casino and lose it, I still have to claim it as a… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
9,340 satisfied customers
I'm doing my taxes and I reported 50k in gamble winnings from
I'm doing my taxes and I reported 50k in gamble winnings from casino with my w2g form. I paid 12.5k in taxes for it when I received my winnings. If I lost 50k for the year as well, can I put this numb… read more
Barbara
Barbara
Enrolled Agent, Paralegal
24,637 satisfied customers
I PLAYED MANY ONLINE CASINO GAMES IN THE YEAR 2014 AT MANY
I PLAYED MANY ONLINE CASINO GAMES IN THE YEAR 2014 AT MANY ONLINE CASINOS, SOME USING CASINO ‘FREE BONUSES', SOME WHERE I DEPOSITED MONEY, AND SOME WHERE A BONUS WAS ADDED TO THE AMOUNT DEPOSITED. THE… read more
Tax.appeal.168
Tax.appeal.168
Principal
8,236 satisfied customers
I wan a bad beat jackpot (aka Jumbo Jackpot) at a Station Casino
I wan a bad beat jackpot (aka Jumbo Jackpot) at a Station Casino in Las Vegas, NV, for $30,000 while playing $2-$4 limit Texas hold ‘em. You have to be in the hand playing and calling all bets to qual… read more
Tax.appeal.168
Tax.appeal.168
Principal
8,236 satisfied customers
My parents are semi retired and have been leisurely visiting
My parents are semi retired and have been leisurely visiting the casinos in Louisiana. They are residents of Texas for the past 30 years. My mom has great luck and have been winning large amount of mo… read more
DanielleCPA
DanielleCPA
Certified Public Accountant
Bachelor's Degree
798 satisfied customers
Referring to gambling winnings. For example, if one has winnings
Referring to gambling winnings. For example, if one has winnings from Casino gambling, can they deduct losses from any other type of gambling to offset the declared gain?… read more
R. Klein, EA
R. Klein, EA
Tax Advisor
Master's Degree
3,230 satisfied customers
I am an Australian citizen and was recently in the USA. I
I am an Australian citizen and was recently in the USA. I won a couple of times on poker machines and was taxed about $2500.00. I lost more than I won and getting over there cost more than I won. How … read more
Merlo
Merlo
Tax Consultant
560 satisfied customers
I had two large jackpot wins, on slot machines, last year ($10,000
I had two large jackpot wins, on slot machines, last year ($10,000 & $8,600.) I didn't keep records of my total gambling 'losses', as I'm new to this & have no idea how to properly do this. Can I esti… read more
Marvin,EA
Marvin,EA
Enrolled Agent
Bachelor's Degree
1,663 satisfied customers
This year i have wwon and lost at the casinos and would like
This year i have wwon and lost at the casinos and would like to know how the win lost form works and how it pertains to my tax return and when should the casinos send it to me.… read more
Marvin,EA
Marvin,EA
Enrolled Agent
Bachelor's Degree
1,663 satisfied customers
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