Where do you report $ 200,000 sports betting income? No W-2 G was received? Program will not allow me to deduct his gambling losses, if this is reported as Misc Income.

Forum|Forum|1 year ago
August 20, 2025
2 replies
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Lacerte Tax

Best answer by TMC

Screen 13.2 has a place to enter non-W2G winnings. On the far left of the 13.2 screen in blue you can click on "Losses/Misc Winnings" and it will bring you to a spot for entering Winnings not reported on form W2G

George4Tacks

Level 15

Just type "Sports Betting" and enter the winnings in the W-2G entry. The rest is only necessary if there is withholding. In general lots of W-2G and no withholding - enter ONE W-2G with the name, amount of winnings as a total and the amount of losses as a total. No need to enter all those grubby little hunks of paper the client brings in. Enter the EIN, etc - IF there is withholding from that source, but again one total.

Answers are easy. Questions are hard!

T

TMCAnswer

Level 2

Screen 13.2 has a place to enter non-W2G winnings. On the far left of the 13.2 screen in blue you can click on "Losses/Misc Winnings" and it will bring you to a spot for entering Winnings not reported on form W2G

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