I have heard this stated both ways and am in urgent need of filing 2019 taxes witha note from the IRS saying they are going to send me a bill. Yes, thank you for your comment on this gray area that I am wrestling with. You can add a comment if this applies to you. This would be considered self employment income. If services were performed then income would be reported on Form 1099-MISC in box 7, as nonemployee compensation.

Īttached is a checklist of other itemized deductions so that you take full advantage of this. Gambling winnings are taxable income and any gambling losses to the extent of the amount of winnings is deductible as an itemized deduction under miscellaneous expense (not limited by a percentage of income) if this works for you.

Enter the gambling losses (see image attached for assistance).

Gambling Winnings enter the full amount of the winnings.

Sign into your TurboTax Premier account (online or desktop).

Gambling winnings are reported by following the steps below. To report your gambling winnings and losses you can use the steps below. Winnings shouldn't be reported on this document.

If the Form 1099-MISC has an amount in box 3 you can use the steps below without entering the Form 1099-MISC itself. Assuming the income is from winnings you can report the winnings and losses as shown below.

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