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Level 1
August 20, 2025
Solved

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.

  • August 20, 2025
  • 1 reply
  • 9 views
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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

 

 

1 reply

George4Tacks
Level 15
August 20, 2025

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!
TMCAnswer
Level 2
August 21, 2025

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