Form W-2G Certain Gambling Winnings is used to report gambling winnings and any federal income tax withheld on those winnings. The requirement for reporting and withholding depend on the type of gambling, the amount of the gambling winnings, and generally the ratio of the winnings to the wager.
In order to enter Form W-2G Certain Gambling Winnings correctly, follow the instructions below:
1. Click Add Form
2. Select the W-2G Certain Gambling Winnings
3. Choose the Taxpayer/Spouse Occurrence
4. Enter the required information directly from the form in hand
The Winner's EIN in the tax software will always be RED. Do not worry about this function.
5. Click Refresh
6. Click RET 1040 - FEDERAL RETURN
7. Navigate to line 21 of the Federal 1040 (double check that the winnings are present)
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