u/44193_Red

Hi guys, i'm struggling to figure this out. I've got a prize winning, from consistent raffling throughout the year. The prize was 15000 in value.

They issued a 1099-MISC. In Turbotax, they dont allow me to diretly edit the schedule A to put in gambling losses. The only way to do losses is to fill the W2G field, but, I also need to note "didnt recieve W2g" and enter both the income AND deductions.

I am worried if I dont file the 1099-MISC form, it will raise a flag.

I've spoken to Turbotax, and even paid for help with "CPAs" on Fiverr, no one has a answer. Heck, Turbotax said to tie the 1099-MISC to a business (gambling monthly to earn income), and write off a much as i can there.

Anyone know?

Win a prize and was issued a 1099-MISC.

Very confused as to whether or not I can use the gambling section in turbotax and enter my prize and losses.
Google search led to a workaround but i dont know if its legit?

• Advice #1
• Report the winnings in the gambling section ( so you can enter losses (itemized, capped at winnings).
• Then enter the 1099-MISC with a negative “other income” adjustment to cancel it out and avoid double counting.
• End result: winnings show correctly, losses applied, no duplicate income.
• Advice #2: just delete 1099-MISC and report as gambling directly, but people worry about IRS matching.
• Advice #3 Turbotax support also recommended entering it as a 1099-MISC+ScheduleC (BUSINESS and deduct the gambling losses there).

Please advise? Nothing makes sense anymore