Gambling losses on CA tax return

Forum|Forum|1 year ago
December 28, 2024
1 reply
11 views

Can I deduct Gambling losses (to the extent of winning) on California tax return? If I can then where do I show the losses on 540 Form? My client won $8000.00 shown on W2G and he wants to claim that loss

on his CA tax return.

Thank you in advance.

ProSeries Basic

This topic has been closed for replies.

Best answer by Just-Lisa-Now-

Use the button on Line 18 of form 540 to see whats included in the itemized deductions for CA, thats where you'll find it, included on Line 18.

The CA return should also have a Sch A included with the 540, you could look at that as well.

Just-Lisa-Now-

Intuit Community Champion

Gambling losses are part of Misc Itemize Deductions, Sch A, they should automatically flow to the CA return.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

S

singhAuthor

Level 6

Thank you, Lisa, but I cannot locate where on 540 Form the losses are shown. On CA 540 Adjustments

under Part 1 Section B should I manually enter the loss under ' Subtractions' Line 8b, or should I go down to SECTION C- Adjustments to Income and enter it on Z 'Other adjustments' Under 'Additions.'

I would really appreciate if you could look into it.

abctax55

Level 15

"...if you could look into it."

Lisa is a fellow software user, a volunteer.

CA's reconciliation of itemized deductions isn't on Form 540. It's on California's six page Sch CA, Part II, page 5-6. Specifically, line 16.

Gambling losses are NOT an adjustment to income, they are itemized deductions. Are you sure your client has enough in dedutions to itemize?

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