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Entering Gambling Winnings

minnow150
Level 2

A client just dropped off over 200 Form W-2G's from online gambling winnings.

Can I enter them in total (similar to stock transactions) or must I have someone input them individually?  If I can enter them as a group, are there any special wordings or codings that are needed?

 

Thanks.

 

Mike Gilligan

 

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Accepted Solutions
PhoebeRoberts
Level 9
Level 9

I routinely enter one summary W-2G per casino per spouse if there's no withholding. If there's withholding, I do enter those individually. No rejects, no correspondence.

200 W-2Gs is too many to meet e-file specs, so your other option is a paper return, and no one wants that.

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5 Replies 5
IntuitTylor
Employee
Employee

Those all will need to be entered in order to create the electronic copy of the payer information that the IRS would verify against. There is not a way to enter all and attach a statement like dispositions. 

sjrcpa
Level 15

@IntuitTylor For curiosity sake, can 200 W-2Gs be entered in Lacerte? I don't know what the limit is.


ex-AllStar
sjrcpa
Level 15

If 75 are all from one payer, I'd go for it and enter the total.


ex-AllStar
TAXOH
Level 10
Level 10

I have done what sjrcpa suggested many times and have never had an issue doing it that way. 

PhoebeRoberts
Level 9
Level 9

I routinely enter one summary W-2G per casino per spouse if there's no withholding. If there's withholding, I do enter those individually. No rejects, no correspondence.

200 W-2Gs is too many to meet e-file specs, so your other option is a paper return, and no one wants that.

View solution in original post