taxes

I was wondering about taxes on two small jackpots. I had the handpay but typically we just use two cards with my husbands name only on them. I just don't play as much he does so it seems to work better for comps.However now I am wondering about the tax man. Question is this-as we file jointly, can we use his win/loss statements to offset the winnings? Does anyone know if you can still use losing lottery tickets to off set winnings. Any info apperciated as you can tell this does not happen to me very often as I am completely clueless. Thanks
Did you get a Form W-2G? if not there is nothing too report unless you feel you are ethically required to do so. You can offset the winnings with gambling losses but only if you are in a position to itemize your deductions. Win/loss statements will probably not be accepted but losing lottery tickets would be. Finally none if that matters unless you are audited which is highly unlikely.
I did fill have to fill out the w2 form so I am sure it will be noticed. I guess I'll have to pick up all the scratch offs people throw on the ground in the gas stations and 7-11 now lol! I think we do itemize so win loss will come in handy. But my concern is will my husbands offset the win .cause we file jointly
your w-2g income is just like you and your husband"s other income.....added together if you file together, and seperate if you file seperate. losses the same, up to the limit.

Win/loss statements ARE accepted as evidence of claimed gambling losses to offset winnings.

If you file jointly, husband's win/loss statements will do. It is all one return that includes your household income, expenses, and gambling winnings/losses.

I was audited years ago. All I had, and all I submitted (as instructed to do by the IRS), was my win/loss statements. Done, return accepted with no further action required.

If your return is selected for audit, the IRS sends you a booklet that, among other instructions, details what "evidence" is accepted for the audit, which included casino win/loss statements, personal records, losing horseracing tickets, losing keno tickets, etc. I'm assuming lottery tickets also. When I was audited our state did not yet have lottery at the time so I didn't pay attention to that. You can find this information on the web now.

Just save everything related to gambling losses, including win/loss statements (yours and your husbands) in your files.

The casinos include a disclaimer with the win/loss statement that it may not be considered accurate for tax reporting purposes, and the player is responsible for losses claimed. This is true, but the IRS does accept them as evidence they will use to audit your return. They could, of course, choose to ask for more evidence if something doesn't look right.
Thank you all so much. Leaving for Vegas in13 days and now I won't worry about winning again! Haha like that will likely happen
I had 4 W-2G over the past year and a half and I concur the win/loss statements for me more than leveled out my wins! They are accepted for sure and a bunch easier then scraping the scratch offs from the street.
Win/loss statements accepted on last audit with no problem (about 80K offset). I had one that I had won while using my wife's card and it showed up on her win/loss, so I had to explain to the auditor why she didn't have a W-2 to go with it. I asked about the lottery tickets and he said they could be used to offset lottery winnings, but not W-2g's (I thought that was rather odd). I have run across a couple of folks who got audited and their win/loss stmts were not accepted...may depend on the auditor.
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