Re: W2G winnings
You can only deduct losses (from winnings and up to the amount you won) if you itemize.
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Guest started a topic W2G winningsW2G winnings
When you fill in your W2G winnings on the turbotax program, it automatically deducts money from your tax refund. When you get to the next question and fill in your losses (zeroing out the winnings), the program still continues to deduct about 25% of the winnings in taxes.
Is this right? I thought if you had proof of the losses, it was a clean sweep!! Thanks.Last edited by SteveBourieOLD; 09-13-2008, 05:52 PM.
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