I have kept the scratch-off losers. How do I show my loses in comparison to my 1 $1000.00 winner when filing taxes?



Unless you itemize deductions, those losing tickets won't help you.


You put the $1000 on the line of Form 1040 for gambling winnings. If the losses are more than $1000, then you put $1000 on the line of Schedule A for gambling losses up to the amount of gambling winnings. If the losses are less than $1000, then you put the amount of the losses on the line of Schedule A for gambling losses up to the amount of gambling winnings.


Sorry, but you don't. The IRS knows as well as you do that you can collect losing tickets from other people and from wastebaskets at lottery outlets, and doesn't accept losing tickets as proof of purchase. You need a daily log of ALL of your gambling activity. You can't deduct losses anyway unless you itemize, and hardly anyone does, especially with the increased std deduction. Tthe responders who say you just net them out of the $1000 are wrong, you have to show the whole amount on the W2G as income. If you do subtract them, in a few months you'll get a letter from the IRS telling you that you made a mistake and billing you for the rest of the tax plus interest and penalties.

Max Hoopla

You take an itemized deduction for the losers up to the amount of your winnings.


Unless you can itemize deductions you don't.

Jake No Chat

You simply subtract your losers from your winners, but you cannot claim an actual overall loss. You can only reduce your tax burden from the winners.


You off-set them. MAKE SURE TO KEEP THEM!!


Add up your costs in buying the losing tickets. Those are your "losses". They are unlikely to force you to document the losing tickets, but if they do, you have them available.

Captain Matticus, LandPiratesInc

Add up what you spent and compare it to what you won. Don't forget to include the cost of the winning ticket as part of your expenditures.


Just enter your net gain/loss.