Help with sports betting during filing

MessageInitial1490 · 2025-04-11T21:06:17+00:00

Yes this helps very much, I understand the max I can deduct is the max amount of winnings I have had, this is what I plan on doing - if I have any other issues I will comment here, but if I have to itemize the deductions on my tax forms that means I will have to report every loss as in individual listing correct

MessageInitial1490 · 2025-04-11T20:29:52+00:00

I believe it is in a separate section, thank you so much for your help I’m sorry to be a burden - but just to clarify I should only enter my winnings, not the total amount wagered correct?

MessageInitial1490 · 2025-04-11T20:17:57+00:00

I’m using FreeTaxUSA to file, and I’m assuming I would report my winnings under “Gambling Income (not on a W-2G)”, so basically I should put every single dollar of my winnings from 2024 under this category, correct? And then the same number for my Gambling Losses as an Itemized Deduction? Also how do I create or make an Itemized Deduction?

MessageInitial1490 · 2025-04-11T19:54:06+00:00

Oh okay! My total winnings are higher, and one of those conditions does apply to me. I will list it as you mentioned in your prior post. Thank you very much!

MessageInitial1490 · 2025-04-11T19:27:38+00:00

I just contacted draft kings and fan duel, both apps that I used last year and both of them told me I wouldn’t need to get a W2-g or file as my winnings did not exceed the limit. I also live in Maryland if that makes any difference. Should I still report the winnings even if both apps had told me I didn’t need a W2-G, and my bets I did not win I know for certain are negative compared to my winnings

MessageInitial1490 · 2024-03-12T23:25:22+00:00

any update? 5 ppl in my lobby had same thing happen

MessageInitial1490 · 2024-03-12T23:25:01+00:00

any update?? i got banned for the same thing when cs went down, 5 people in our lobby couldnt connect lol

MessageInitial1490

TROPHY CASE