View Poll Results: How Do You Report Gambling Winnings on Your Taxes

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  • As Other Income Deduct Losses as Itemized Deduction

    2 33.33%

  • As a Business on Sch C

    1 16.67%

  • Only Report if Receive a W2G

    0 0%

  • Net Winnings & Losses Then Report as Other Income

    1 16.67%

  • I Plead the 5th

    2 33.33%
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Thread: How Do You Report Your Gambling Winnings on Your Income Taxes

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  1. 01-05-2018, 09:43 PM #1
    Midwest Player
    Midwest Player is offline
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    How Do You Report Your Gambling Winnings on Your Income Taxes

    It is a new year so time for a new poll.

    I'm curious how most folks report their gambling winnings on their taxes. There are two main methods. The first is to report winnings as other income and deduct losses as an itemized deduction. The second is to report as a business and file Sch C. There are also some made up methods such as to only report if you receive a W2G or to net winnings and losses and just report the net amount.

    I feel most folks don't bother reporting anything unless they happen to be issued a W2G. However, I have nothing to back up this feeling.

    Note: This poll does not reveal your handle.
    Last edited by Midwest Player; 01-05-2018 at 10:14 PM.
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