There are some casinos that can provide this for you. The gambling institution will issue a W2-G for the following winnings:.
Each state has their own winninge formulas and rules for gambling income, and some levy no gambling taxes at all. TurboTax should get you to the exact answer after you enter all of your information. Date Type of gambling activity Name and address of the establishment or event Names of other people there gamblig the time of the activity Amounts of winnings and losses If you efile your tax return, you do not have to send any W-2Gs or other documents to the IRS but you must keep them for your records in case of audit. Deduct fee from refund. Should we owe taxes.File this form to report gambling winnings and any federal income tax About Form W-2G, Certain Gambling Winnings About Form Gambling winnings are reported on Form W-2G. Here's where you enter Form W-2G (Certain Gambling Winnings) in TurboTax: Form G reports certain types of government payments you received during the tax year. Certain winnings, such as automobiles and non-cash prizes, require the gambling institution to issue you a misc form to report the income.