I haven't done my 2010 yet but I remember the prompt in the 2009 version of
Turbotax did come up. However, when I went back to see it again, it did
not come up so I switched from Interview mode to Forms (via View menu) to see
the amount in Schedule A.
I used a spreadsheet to track my sessions. Since the situation usually
occurs where W2G & 1099-MISC income is exceeded by your losses, it's a good
idea to:
1. track these items with individual columns on your spreadsheet
2. sum up each item (W2G & 1099-MISC) & what you enter for W2G &
1099-MISC should match these sums
3. if you have a lot (say more than 20), ask the IRS for copies
(usually in Sep or later because it takes them that long before the info is
downloaded into the local offices) so that you can check for any omissions (then
file a revision if you find any) this is not a necessary step but doing
this makes your records match the IRS' & lowers the chance of audit
4. by having the sums in step 2, then it should be an easy job to
figure out (in winning years) what the total is for Other Income from non-W2G &
non-1099-MISC.
Tip: if you know how to use pivot tables & keep a continuous log for all
years, it makes it easy to do all the things above & to do comparisons by
year, game, casino, etc.
In a message dated 4/20/2011 1:09:12 A.M. Pacific Daylight Time,
vpFREE@yahoogroups.com writes:
Greetings
I recently did my taxes on TurboTax. i used the premier version which is
quite inclusive. I do not remember being prompted for my gambling W/L
totals.although I had a loosing year by a wide margin Do you think they will
audit me anyhow? . I did have one 2000 dollar hit.
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