Thank you for the reply Phil,

- quote -

"Correct. Unreported gambling winnings and those reported
on cocktail napkins are also reported on line 21."

Cool.

- quote -

"Why are you attaching a confirmation of what you put on the
return? This sounds like suspenders and a belt to me."

I understand, I was just worried my belt might not be
attached properly and added the suspenders in hopes of
keeping my rear end covered. I've received confirmation from
a couple places that no matter how I enter the data, it goes
on line 21, so I see your point about restating what is
already stated.

I wanted to get a little feedback before I paid the fee to
print the TT returns, I feel better now. At any rate, I
would only be out a few (deductible) bucks if TT doesn't
work for me this year.

Cheers!

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

<non_pro_gambler[at]yahoo.com> wrote:

- quote -

Correct. Unreported gambling winnings and those reported on
cocktail napkins are also reported on line 21.

- quote -

Why are you attaching a confirmation of what you put on the
return? This sounds like suspenders and a belt to me.

- quote -

If TT won't do its job for you this year, I guess you'll
have to ditch it. I see no need for a professional preparer.
You seem to know the rules and how to report your gambling
winnings and losses. IRS still accepts returns prepared by
ordnurry folk.

--
Phil Marti
Clarksburg, MD

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

<non_pro_gambler[at]yahoo.com> wrote:

- quote -

Correct. Unreported gambling winnings and those reported
on cocktail napkins are also reported on line 21.

- quote -

Why are you attaching a confirmation of what you put on the
return? This sounds like suspenders and a belt to me.

- quote -

If TT won't do its job for you this year, I guess you'll have
to ditch it. I see no need for a professional preparer. You
seem to know the rules and how to report your gambling winnings
and losses. IRS still accepts returns prepared by ordnurry folk.

--
Phil Marti
Clarksburg, MD

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

The past few years, I have been using Turbo Tax online to
file my taxes. I am single, a homeowner, itemize
deductions, and have found the program works great for me.

In 2005, I won a jackpot of about $30,000 while playing
poker and the casino issued me a 1099-MISC form. There is
nothing on the 1099-MISC that specifically points out that
the income was from gambling.

My issue comes up while completing the income section of the
online version of Turbo Tax Premeir. I understand that I
can deduct documented gambling losses up to the amount I
won. However, If I enter the 30k income in the section
where 1099-MISC forms are entered, the program does not
allow me to deduct gambling losses.

I have heard that both 1099-MISC and W-2G/gambling gains are
both entered on the same line (21?).

I intend to enter the 1099-MISC data in the open "gambling
income" field and attach a letter of explanation that this
income is from gambling to justify the 10k gambling loss
deduction I intend to enter on Schedule A.

I wanted to gather opinions on doing this. If this seems
too out of line or fishy I will ditch Turbo for a
professional preparer.

Any opinions are welcome, both on the Turbo Tax product and
on the gambling income issues.

Thank you for your time.

amateur gambler

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >