Level 2

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Entering Gambling Winnings

Forum|Forum|5 years ago
March 17, 2021
4 replies
21 views

A client just dropped off over 200 Form W-2G's from online gambling winnings.

Can I enter them in total (similar to stock transactions) or must I have someone input them individually? If I can enter them as a group, are there any special wordings or codings that are needed?

Thanks.

Mike Gilligan

Lacerte Tax

This topic has been closed for replies.

Best answer by PhoebeRoberts

I routinely enter one summary W-2G per casino per spouse if there's no withholding. If there's withholding, I do enter those individually. No rejects, no correspondence.

200 W-2Gs is too many to meet e-file specs, so your other option is a paper return, and no one wants that.

T

TylorValdez1

Level 6

Those all will need to be entered in order to create the electronic copy of the payer information that the IRS would verify against. There is not a way to enter all and attach a statement like dispositions.

sjrcpa

Level 15

@TylorValdez1 For curiosity sake, can 200 W-2Gs be entered in Lacerte? I don't know what the limit is.

The more I know the more I don’t know.

sjrcpa

Level 15

If 75 are all from one payer, I'd go for it and enter the total.

The more I know the more I don’t know.

TAXOH

Level 10

I have done what sjrcpa suggested many times and have never had an issue doing it that way.

PhoebeRoberts

Answer

Intuit Community Champion

I routinely enter one summary W-2G per casino per spouse if there's no withholding. If there's withholding, I do enter those individually. No rejects, no correspondence.

200 W-2Gs is too many to meet e-file specs, so your other option is a paper return, and no one wants that.

sjrcpa

Level 15

This post has been deleted.

You and your spam have been reported.

The more I know the more I don’t know.

IRonMaN

Level 15

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