The National Directory of
Certified Public Accountants

Ask A CPA - Gambling Winnings & Losses

1. Are my gambling winnings from the lottery subject to backup withholding ?

2. Are my gambling winnings from the slot machines subject to backup withholding ?

3. Are my gambling winnings that were reported on Form W-2G fully taxable ?

4. Are travel expenses related to my appearance on a game show deductible against my winnings?

5. How do I deduct and substantiate my gambling losses ?

6. I won a prize of a leather coat at a fashion show , is it taxable ?

7. Is the $1,000 I won at Bingo reportable to the IRS ?

8. Is the $1,000 I won on the slot machines in Las Vegas reportable to the IRS ?

9. Is the $10,000 prize I won as a game show contestant taxable?

10. Is the $300 I won in a charity raffle taxable?

11. Is the T.V. I won in a Little League raffle taxable?

12. Where do I report the lottery winnings I won during the year on my tax return ? I received a 1099-G

13. Will my Gambling winnings of $700 be reported to the IRS ?

14. Will the $1,000 I won at Keno be reported to the IRS ?

If you need professional help with "Gambling Winnings & Losses" or have other tax questions, we can help you find a local licensed CPA for a free, no-obligation consultation.