You may or may not receive Form W-2G Certain Gambling Winnings, but you can report all gambling winnings in the same place in the TaxAct program. Gambling winnings are reported as Other Income on Schedule 1 (Form 1040) Additional Income and Adjustments to Income, Line 8. If you are able to itemize your deductions, gambling losses can be reported on Schedule A (Form 1040) Itemized Deductions (gambling winnings are not directly offset by gambling losses in your tax return, and losses can only deduct up to the amount of your gambling winnings).
To report gambling winnings in the TaxAct® program:
To report gambling losses in the TaxAct® program:
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