[See Screenshot #1, below. To report actual expenses on a Schedule F that has already been created (see here for instructions), from the Main Menu of the tax return (Form 1040) select: Income Menu. Rather, the number of gambling winnings that you earn will dictate if you have to pay taxes or not. Calculate the return. Alternatively, you can contact the IRS at 1-800. Russia started a war of conquest not only against Ukraine and its civilian people, but also against democratic values, human rights and freedoms!. NerdWallet: Based on review of TaxSlayer’s software by NerdWallet. If you make $70,000 a year living in Oregon you will be taxed $13,805. Discover the best slot machine games, types, jackpots, FREE gamesYou qualify to use the IRS Free File Program delivered by TaxSlayer if you: Qualify for the Earned Income Tax Credit (EITC) (see guidelines ), OR. Except in the final year of an Estate or Trust's operation, the Internal Revenue Code does not normally allow losses, whether incurred in the current tax year or accumulated to be distributed to a beneficiary. First, check the list below to see if you're eligible to claim any of the deductions. Step 1: Breaking Out Short and Long-Term. On December 29, 2021, Public Act 168 (PA 168) was signed into law amending the Michigan Income Tax Act (MITA) to create a new individual income tax deduction for wagering losses sustained by casual gamblers. Simply Free. What are Capital Gains and Losses? Capital gains and losses occur when a taxpayer sells a capital asset such as stocks, bonds, or the sale of your main home. DoughRoller: Based on review of TaxSlayer’s software by DoughRoller. Taxslayer Gambling Losses, Apl Poker Bunbury, Casino Ninou, Magnus Carlsenchess Games, Ktu S1 Slots, Royal Ace Casino No Deposit Bonus Codes February 2022, Morgan Stanley Online Gambling. Form W-8BEN-E is a form that you will receive already completed by the foreign entity, outlining your income. $5,000 or. From the calendars, choose "January 1" and "December 31" of the preferred year. Gambling losses . DoughRoller: Based on review of TaxSlayer’s software by DoughRoller. If you receive multiple W-2G. If you determine any difference in taxable amounts of your gambling winnings, under the session method, you can then enter an adjustment. Unemployment Compensation. , rent, contract labor, legal and accounting, trust. You are not permitted to "net" your winnings and losses. Reporting Gambling Winnings and Losses for Taxes. $0. DoughRoller: Based on review of TaxSlayer’s software by DoughRoller. H&R Block Premium — Best for expenses and deductions. You will get the full benefit of the deduction whether or not you have any other itemized deductions. Jacques Philips . Short Term Loss Carryover from 20xx. For taxpayers below the income threshold of $157,500 (or $315,000 for Married Filing Jointly), the QBID will be. TaxSlayer Facilitated Self Assistance (FSA) product: TaxSlayer FSA is available this year as a fusion, stand-alone and remote product. Offsetting long-term gains with a short-term lossYou cannot net Monday’s gambling winnings against Tuesday’s gambling loss to report $0 of gambling income because the win and loss occurred in different “sessions” (days). , you cannot reduce the gambling winnings by the. Go to Federal Taxes tab ( Personal Tab in Self-Employed) Click Wages & Income. Gambling Losses Taxslayer - Previous 1 2 3. Enter State total gambling losses, if different. Investments. DoughRoller: Based on review of TaxSlayer’s software by DoughRoller. Jet Setters. You may deduct the total amount of exempt dividends received from a qualifying mutual fund that are derived from U. In the US alone, the current size of the gambling industry is bn. e. Individuals who are claimed as dependents, $6,350. Turbo Tax is trash. I have never won this much for the year so I never deduct as it doesn't make sense. When tax time rolls around, Frank itemizes this $4000 loss and feels like a tax-savvy. Married Filing Separately, $7,350. If you itemize, you can claim a. College Investor: Based on review of TaxSlayer's software by College Investor. You can deduct gambling losses up to the amount of gambling winnings, but only if you are able to itemize your. Nondeductible expenses: commuting; home repair; rent; loss from sale of home; personal legal expenses; lost/misplaced cash or property; fines/ DoughRoller: Based on review of TaxSlayer’s software by DoughRoller. Consequently, passive loss is generally disallowed as a deduction on a tax return. Homeowners, individuals with dependents, all tax situations covered. College Investor: Based on review of TaxSlayer's software by College Investor. S. ; Select Losses/Misc Winnings from the left navigation panel. under age 65, Gross Income is at least $19,400. age 65 or older, Gross Income is at least $21,150. Desktop: Amending a State Tax Return With The 3-Column Format (2018 and prior) Desktop: Amending a State Tax Return With The 3-Column Format (2019)TaxSlayer Pro automatically calculates QBID using the information provided elsewhere in the return, producing either Form 8995 or 8995-A as needed. The gambling losses alone are much more than the standard deduction. You can't reduce your gambling winnings ($500) by your gambling losses ($400) and only report the difference ($100) as income. Fastest/quickest refunds possible: According to the IRS, the fastest way to receive refunds is by e-filing and using direct deposit as the. Schedule A Itemized Deductions is not used if you claim a standard deduction on your 2021 1040 tax return. 02 Graphic Design. Loss on certain corrective distributions of excess deferrals. , Schedule C is used to report the income and loss and calculate your Self-Employment tax. Caution students that gambling losses in excess of winnings are not deductible. Box 13 has many codes, not all of which are direct entries or supported by the TaxSlayer program. Line 1—List the interest and points (including “seller-paid points”) paid on your home mortgage to financial institutionsIf you were a nonresident on the last day of the tax year, file Form 1040-NR. Simply Free. To enter Form 1042-S in Form 1040-NR in TaxSlayer Pro select: US Tax Withheld on Form (s) 1042-S - Select New and enter all the information on the form. 2, Gambling Winnings and Losses. You can only deduct gambling losses up to the amount of your winnings if you itemize deductions on Schedule A. The first is to enter the gambling losses on the same screen where you enter your gambling winnings (W-2G). Keep records of wins and losses. Of course this discounts any. DoughRoller: Based on review of TaxSlayer’s software by DoughRoller. IRC §165 (d) limits the deduction of gambling losses up to the amount of gambling gains. While the IRS does not have a gambling losses tax, it does allow for you to deduct gambling losses on your tax return in the form of a miscellaneous deduction. It is this information from Box 20. NerdWallet: Based on review of TaxSlayer’s software by NerdWallet. Income -Select my forms. 6 stars - 1905 reviews Below is a list of income that should be entered on your CA return: Federal NOL Enter the amount of Federal NOL (Net Operating Loss) included on your Federal Return as Addition to Income. Income. I'm an accountant and the original comment posted by hoti0101 is correct. Standard vs. Enter net farm income/loss here. Demonstrate TaxSlayer, Schedule A for Medical and Dental Expenses. Best for. 95 for a state return. NerdWallet: Based on review of TaxSlayer’s software by NerdWallet. 00 as a federal decuction. Interest paid on money borrowed to buy tax-exempt securities or single premium life insurance is not deductible. Fastest/quickest refunds possible: According to the IRS, the fastest way to receive refunds is by e-filing and using direct deposit as the. This K-1 1041 Edit Screen has two distinct sections entitled ‘Heading Information’ and ‘Income, Deductions, Credits, and Other Items. To see this form, click here: Form 80-108. Gambling losses can only be offset to the extent of gambling winnings. Find Casinos Near Me!NerdWallet: Based on review of TaxSlayer’s software by NerdWallet. Background : The determination of. The IRS allows you, the taxpayer, to deduct your gambling losses up to the amount of your gambling winnings. If you enjoy the social aspect of playing slots in a casino. Part year residents: During your period of residency you will have the same filing requirements as. Are bank statements proof of gambling losses? You can use your bank statements as proof of gambling losses if they are listed separately and not a combined number. Gambling winnings are reported on Form 1040 Schedule 1 on Line 8 as Other Income. College Investor: Based on review of TaxSlayer's software by College Investor. Adjustments to Basis in TaxSlayer Enter Capital Gain/Loss Transactions in TaxSlayer For most transactions, you do not need to adjust the basis. For example, if you win $620 from a horse race but it cost you $20 to bet, your taxable winnings are $620, not $600 after subtracting your $20 wager. Other Deductions. New - navigate to the document, select it, then click Open. Details. Learn More. Married Filing Jointly. Our program will either carry your 1099-MISC income where it needs to go or prompt you to create the appropriate. W2-G forms are not required for winnings from table games such as blackjack, craps, baccarat, and roulette, regardless of the amount. Individual Income Tax Return, or Form 1040-SR, U. See IRS Topic 419:. OVERVIEW. Simply Free. All the slot machines presented on our website are only demo versions and are designed for testing or entertainment, and the game uses only virtual coins. W-2G : Certain Gambling Winnings. TaxSlayer is not affiliated with any of these companies. K-1 Earnings. TaxSlayer to calculate the deduction. Other Capital Gains Data (including Capital Loss Carryover) - Enter the short-term and/or long-term amount being carried over from the prior year in the appropriate box. 0 Bonus : Minimum Deposit. For examp. If your client’s losses exceed this amount, they can benefit from carryover losses in subsequent. The K-1 1065 Edit Screen in the tax program has an entry for each box found on the Schedule K-1 (Form 1065) that the taxpayer received. Fastest/quickest refunds possible: According to the IRS, the fastest way to receive refunds is by e-filing and using direct deposit as the. 1% income, allowing a deduction for losses from wagering transactions, that were incurred at a gaming establishment licensed in accordance with. Short Term 1099-B Transactions with No Adjustments. Enter the amount of unemployment compensation from Form(s) 1099-G received in the tax year that is taxable as Mississippi income. If you claim the standard deduction, then you can't reduce your tax by your gambling losses. 95 for a federal return + $39. Make sure to check out Vegas World's Tropical Treat, Jewelbox Jackpot Deluxe and Mystic. Form 1099-MISC Explained. Casual gamblers may only deduct wagering losses at the federal level by itemizing, which, consequently, is not included inIn TaxSlayer ProWeb, enter the income from either document directly in Schedule C. Gambling losses (to the. S. February 23, 2022. On TurboTax's Website. ] On the Gambling Winnings screen, click. You deduct your gambling losses for the year on Schedule A (Form 1040), line 16. Search gambling tax deduction on DoNotPay. So that's one thing to keep in mind. one spouse age 65 or older, Gross Income is at least $27,300. Fastest/quickest refunds possible: According to the IRS, the fastest way to receive refunds is by e-filing and using direct deposit as the. You can't deduct gambling losses that are more than your winnings. The second-year head coach has righted the ship, however, and lost just twice since October rolled around (to Alabama and. government. Gambling Losses You cannot claim California lottery losses on the CA return. Absolutely, just make sure it includes all wins and losses separately and is not a combined number. TaxSlayer Premium. Additionally, if you itemize, you can include your gambling losses (up to the extent of your winnings) on Schedule A. Includes. There is an entry screen for gambling losses. Click on Wages and Income (Personal Income using Home and Business) Click on I'll choose what I work on (if shown) Scroll down to Less Common Income. Form W-8BEN-E. 1 Best answer. If their loss was greater than $3,000, they can carry the loss forward to reduce income or offset capital gains in future years. TaxSlayer is not affiliated with any of these companies. Tax Topics: Gambling Winnings and Losses YouTube video: Miscellaneous Income Tax Topics: Certain Medicaid Waiver Payments TaxSlayer Demo: TaxSlayer Screen - Other Income Nonbusiness Credit Card Debt Cancellation Review L< topic. If your client’s crypto losses exceed their capital gains from all investments, they can use the losses to deduct up to $3,000 from their taxable income. 5% of your income to be greater than the standard deduction. In most cases, the casino will take 25 percent off your winnings for IRS gambling taxes before paying you. Definition - An individual who moves their domicile (legal residence) into or out of North Carolina during the tax year is a part-year resident. TaxSlayer Pro pulls these amounts to Schedule A from other areas of the return, and the amount can be manually adjusted if needed. State and Municipal Bond Interest. Sale of property used for business or investment is generally reported on Form 4797 rather than Schedule D unless the property was used for both personal and business use. “Online gambling is huge worldwide. By the end of the strike, he had at least $700,000 in gambling debts. If you are, you'll claim them when you file your annual Indiana income tax return on Form IT-40 or IT-40PNR. $1,500 or more in keno winnings (minus the amount you bet) $5,000 or more in poker tournament winnings (minus the amount you bet or buy-in price)Full Service for personal taxes Full Service for business taxes. The amount of gambling losses. March 22, 2020 10:35 AM. The software will carry the transactions to the appropriate Form 8949, Sales and Other Dispositions of Capital Assets. TurboTax prompts you to enter your gambling losses after you enter your gambling winnings. Tax-loss harvesting 101. You should report Box 13 information from your Schedule K-1 Form 1065 under the. Mississippi income tax was withheld from your wages (other than Mississippi gambling income). College Investor: Based on review of TaxSlayer's software by College Investor. The totals for each Form 8949 will automatically carry to the correct line of Schedule D, Capital Gains and Losses. DoughRoller: Based on review of TaxSlayer’s software by DoughRoller. Gambling losses are indeed tax deductible, but only to the extent of your winnings. 9 meeting. Apportioning Income (Loss) on PA Schedule NRH. The amount of gambling losses you can deduct can never exceed the winnings you report as income. Step 1: Breaking Out Short and Long-Term. Long Term Loss Carryover from 20xx - Enter the short-term and/or long-term amount being carried over. 4. Click on the link ( Download Template) at the bottom of the screen. S. The winnings will still show up as income. Income on bonds issued by a state or political subdivision that are not taxable on the federal return but are taxable to Oklahoma. Alternatively, you can contact the IRS at 1-800-829-1040 and ask them to send you a copy. . In order to make the refund process as easy as possible, we have formed relationships with most of the major gambling establishments. Visuals: Pub 4491, Itemized Deductions IRC Section 965 Deferred Foreign Income. I have about $20,000 in gambling winnings with the same in losses. The 2017 tax law, known as the Tax Cuts and Jobs Act, also modified the definition of “gambling losses” under Section 165(d). See full list on taxslayer. 05-21Nearly two-thirds (64. In the US alone, the current size of the gambling industry is bn and is expected to grow in value to over bn by 2024. Enter the taxpayer's SSN or ITIN in the Client List. Gambling Losses are reported on Form 1040 Schedule A as a Miscellaneous itemized deduction. Live Dream Catcher. But you will have the problem of an inflated AGI that Opus 17. W-2G = Sports Betting. This is where you will enter gambling winnings such as work sports pools and illegal gambling. [See Screenshot #1, below. Includes all forms + live chat support, Ask a Tax Pro, front-of-the-line assistance. Applied to 20xx School Income Tax - If a refund is due, part or all of it can be applied to the following year's return. 3903. A. Gambling losses go on schedule A line 28 and are not subject to the 2% threshold. If you sold your shares of Stock A for a gain of $500, but sold your shares of Stock B for a loss of $300, then you’ll only pay capital gains tax on $200, the difference between the two. For more information please see this IRS article. You are required to report all income earned from fantasy sports either as "other income" on Schedule 1 for Form 1040, or as business income on Schedule C. TaxSlayer Premium. If you use the first approach, your fantasy sports is considered a hobby and you can't deduct any of your expenses or losses. Originally turbo tax calculated that I owed Ohio approximately $8,000 because of my gambling winnings in Indiana. NerdWallet: Based on review of TaxSlayer’s software by NerdWallet. I'm now doing my taxes for year 2021 and I have followed what was posted here for Gambling losses vs Winnings I actually lost more then I won. Fastest/quickest refunds possible: According to the IRS, the fastest way to receive refunds is by e-filing and using direct deposit as the. Please click here to see what the IRS has to say about gambling. Page Last Reviewed or Updated: 14-Feb-2023. Indiana deductions are used to reduce the amount of taxable income. Tier 3 Michigan Standard Deduction. Yes, scratch off tickets can count as gambling losses - but there is a catch. resident. Prepaid Tuition or College Savings Plan. Eight tax tips for professional gamblers: Make sure you’re considered a professional. Capital gains and losses are classified as short-term or long-term. The errors will be listed on the first page of the E-file section. Student loan interest and education expenses. Spent 25, won 10, net loss 15 - reported $10 winning and $10 loss on federal -----Form: California Gambling Loss Adjustment. Fastest/quickest refunds possible: According to the IRS, the fastest way to receive refunds is by e-filing and using direct deposit as the. 95 Now: $41. Gambling losses. The general rule for claiming gambling losses is that you can never deduct more for losses than you report for income. Please click here for form FTB 3805V to calculate allowable California NOL and enter as Subtraction from Income. When you go through the interview for the W-2G please continue to the end. DoughRoller: Based on review of TaxSlayer’s software by DoughRoller. Level 15. Gambling winnings. DoughRoller: Based on review of TaxSlayer’s software by DoughRoller. 25% off Premium: Was: $54. The Different Types of Online Slots; How to Win at Slots; Volatility in Slots. 1 Best answer. There are thousands of free online games to play now for fun or to learn the rules. You may need to adjust the basis if you received a Form 1099-B or 1099-S (or substitute statement) that is incorrect, are excluding or postponing a capital gain, have a disallowed loss, or certain otherNerdWallet: Based on review of TaxSlayer’s software by NerdWallet. College Investor: Based on review of TaxSlayer's software by College Investor . You can deduct wagering losses (for as much as you won) from your personal income taxes, but only if your wagering activities are considered a trade or business. Winnings in the following amounts must be reported to the IRS by the payer: $600 or more at a horse track (if that is 300 times your bet) $1,200 or more at a slot machine or bingo game. You cannot report withholding without documentation. As a result, a limited partner generally has passive income or loss from the partnership. Royalties can generally be described as payments you receive for the use of your property, that are based in some way on the number of units sold. If you have lost your Form W-2G, you can contact the Gambling issuer (casino) and request a duplicate copy. First, you cannot deduct them without claiming any winnings. Learn about the latest tax news and year-round tips to maximize your refund. For example, if you win $620 from a horse race but it cost you $20 to bet, your taxable winnings are $620, not $600 after subtracting your $20 wager. $11,790 if single,From the Quick Menu of TaxSlayer Pro select: Select Start New Return and enter the taxpayer's SSN or ITIN. For example, receipts from a casino's ATM machine, tickets, statements or a diary. Choose the document and click View . Sick pay and disability benefits that represent regular wages, such as. 888 Resorts World Dr, Monticello, NY 12701, USA. If you claim the standard deduction, then you can't reduce your tax by your. lost($48,000). Government Obligations. For carryback purposes, the form must be filed no later than 3 years from the due date of the loss year income tax return, including any extensions which have been granted. In addition, you can deduct losses that are the result of car, boat, or other accidents (unless the accident was caused by your willful conduct, such as drunken driving). Casual gamblers may only deduct wagering losses at the federal level by itemizing, which, consequently, is not included inFile Form W-2G, Certain Gambling Winnings, to report gambling winnings and any federal income tax withheld on those winnings. If you claimed this on your federal return, you must add the amount back on the state return. For example, if a $50 bet at the racetrack turns into a $120 win, you have won $70, not $120. Military Pension or Survivor’s Benefit Payments Adjustment Certain Gambling Losses. for a noncovered security, select "Box 3 Cost Basis NOT Reported to the IRS". To report your gambling losses, you must itemize your. The Working Families Tax Credit is based on the amount of the Federal EIC the taxpayer received. S. Gambling winnings Payer’s place of residence X Non-Employee Compensation/ Self Employ-ment (Form 1099-NEC, etc. A gaming facility is required to report your winnings on a W-2G when: Horse race winnings of $600 or more (if the win pays at least 300 times the wager amount) Bingo or slot machine winnings are $1,200 or more. An individual who received $421 in interest from bonds issued by another state and purchased after December 31, 2011, will have to “add back” $421 to the amount of income used to calculate the tax obligation for Indiana. Photo By - USA TODAY Sports. If you entered IRS deferred foreign income on your federal return you may subtract that amount on the California return. Section (461) Excess Business Loss Adjustment (461) Taxable Distributions from an ABLE Account (1099-QA). Any information provided to you on a Form W-2G. From the Filing Status Menu, select Form 1040-NR Program. Employer provided fringe benefits, unless excludable. PA SCHEDUL. College Investor: Based on review of TaxSlayer's software by College Investor. First, check the list below to see if you're eligible to claim any of the deductions. Gambling facilities are required to document your winnings with a Form W-2G under certain circumstances: $1,200 or more in winnings from bingo or slot machines. Yes, scratch off tickets can count as gambling losses - but there is a catch. When reporting gains and losses on your taxes, you will need to break your transactions into short-term and long-term. This will not be reported on the 1040. Taxable winnings. Russia started a war of conquest not only against Ukraine and its civilian people, but also against democratic values, human rights and freedoms!. 60% for income of $60,000 or over. College Investor: Based on review of TaxSlayer's software by College Investor. Interest Income and Dividend. Enter “Dual-Status Return” across the top and attach a statement showing your income for the part of the year you were a U. 1. citizen or resident alien for the entire tax year. 2. Types of Free Slots no Download. The correct way to report this income will depend on which box of the 1099-MISC the income is shown. TaxSlayer Editorial Team July 10, 2023. A significant participation activity is any trade or business activity in which you participated for more than 100 hours. The winnings go on the Sch 1 and then the 1040. DoughRoller: Based on review of TaxSlayer’s software by DoughRoller. Our seven-step process assesses every casino on its safety and security, reputation, banking and payments, bonuses and promotions, customer support, compatibility, and online experience before it can feature on our website. You are not permitted to "net" your winnings and losses. A "casualty loss" is a loss that is a result of a sudden, unexpected, or unusual event. The gambling losses will be on Schedule A, if you itemize your deductions, as opposed to taking the standard deduction. There are, however, limits when deducting a net capital loss from taxable income. Often, casinos will track your winnings and losses for you and present you with a statement. TaxSlayer is cheaper than competing tax prep services. Fastest/quickest refunds possible: According to the IRS, the fastest way to receive refunds is by e-filing and using direct deposit as the. That is if the Lockheed Martin Armed Forces Bowl will wait for Army or Navy to notch its sixth win in their Dec. Form 500-NOL is not available in TaxSlayer Pro but can be completed at the Georgia DOR website here. You can sell that 1 bitcoin at today’s price, which is around $21,000. So, if you win $1,000 and lose $1,000, you may owe no taxes on your gambling activities. If you elected to use the standard deduction, you would only reduce your AGI by $13,850, making your taxable income $26,150. On Gambling Winnings, click the start or update button. Fastest/quickest refunds possible: According to the IRS, the fastest way to receive refunds is by e-filing and using direct deposit as the. DoughRoller: Based on review of TaxSlayer’s software by DoughRoller. Reportable Gambling Winnings (box 1) Schedule 1, Line 8b. Form 1099-MISC is a used to report various types of income to taxpayers. We do our best to confirm our competitors’ rates and update this table from time to time, but the rates listed in the table may not be complete. Global Intangible Low-Taxed Income (GILTI) Under IRC Section 951A. In Texas, the amount of gambling tax you owe is not related to your income. With the Tax Cuts and Jobs Act, many of the previously allowed. government obligations. Direct students to Pub 4012, Tab D, Publication 4731 Nonbusiness Credit Card Debt CancellationIn addition to interest, dividends, business and rental income, gambling and lottery winnings and income reported on Form 1099-Misc taxable to Pennsylvania, below are additional items of taxable income that must be added. Online casino games such as craps, roulette or poker are also excellent options for improving strategic skills and confidence, before making the. 3. TaxSlayer Support Gambling Winnings Form W-2G Gambling winnings are fully taxable on your return. Enter your gambling income (select no, I don't have a W-2G) and right after, TurboTax will ask about your losses. 25% off Premium: Was: $54. Capital Gain/Loss (Sch D) Other button. Anyone that withholds tax and sends that tax to the government is required by law to report it with your SSN and provide you with the documentation. Simply Free. Fastest/quickest refunds possible: According to the IRS, the fastest way to receive refunds is by e-filing and using direct deposit as the. Pay quarterly estimated taxes. No answer given. Making the 199A entries in the Business (Form 1120S) Tax Program. 3. Fastest/quickest refunds possible: According to the IRS, the fastest way to receive refunds is by e-filing and using direct deposit as the. Enter the remaining information as requested. At tax time, you’ll receive Form W-2G for all reported. 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Gambling losses (gambling losses include, but aren't limited to, the cost of non-winning bingo, lottery, and raffle tickets), but only to the extent of gambling winnings reported on Schedule 1 (Form 1040 or 1040-SR), line 8. Individuals whose itemized deductions are larger than their standard deduction can choose to claim either the standard deduction or itemized deductions on their tax return. Updated September 12, 2023 See here for an overview of gambling income,. With $10,000 in winnings, you can deduct combined losses up to that amount. To enter gambling losses in TaxSlayer Pro, from the Main Menu of the tax return (Form 1040) select: Itemized Deductions; Other Itemized Deductions; Gambling Losses to the Extent of Gambling Winnings - Enter the amount of the losses as a positive number. College Investor: Based on review of TaxSlayer's software by College Investor. Taxslayer Gambling Losses : Games Played 3 750 Lucky Creek 100% bonus+25 freespins. Enter the name of the casino and indicate whether it's online or in- person. § 105-153. This is the total from line 16 of your 2016 Schedule MA-A or MA-M. SOLVED • by TurboTax • 1733 • Updated April 03, 2023. Once you have entered in your gambling winnings click on Continue.