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How do I report my online gambling winnings and losses?

Online winnings are fully taxable. You’ll need to report all of your winnings, even those that didn’t have tax withheld.

You might be able to deduct your losses. So, keep an accurate record of your winnings and losses.

To deduct your losses, you must provide records that show the amounts of both your winnings and losses, like:

  • Receipts
  • Tickets
  • Statements

Enter your winnings in the Form W-2G topic or as Other Income. To deduct gambling losses, you must itemize your deductions:

  • Claim your gambling losses as a miscellaneous deduction not subject to the 2% limit.
  • Your losses must be equal or less than the gambling winnings you reported as income.

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