Fillable Form W-2g - Certain Gambling Winnings

Form W-2g - Certain Gambling Winnings - 2017 Page 5

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Instructions to Winner

Box 4. Any federal income tax withheld on these winnings is

Box 1. The payer must furnish a Form W-2G to you if you

shown in this box. Federal income tax must be withheld on

receive:

certain winnings less the wager.

1. $1,200 or more in gambling winnings from bingo or slot

Certain winnings that are not subject to regular gambling

machines;

withholding may be subject to backup withholding if you did

2. $1,500 or more in winnings (reduced by the wager) from

not provide your federal identification number to the payer.

keno;

Include the amount shown in box 4 on your Form 1040 as

3. More than $5,000 in winnings (reduced by the wager or

federal income tax withheld. See Pub. 505, Tax Withholding

buy-in) from a poker tournament;

and Estimated Tax, for additional information.

4. $600 or more in gambling winnings (except winnings from

Signature. You must sign Form W-2G if you are the only

bingo, keno, slot machines, and poker tournaments) and the

person entitled to the winnings and the winnings are subject

payout is at least 300 times the amount of the wager; or

to regular gambling withholding. Return the signed form to the

5. Any other gambling winnings subject to federal income

payer, who will give you your copies.

tax withholding.

Other winners. Prepare Form 5754, Statement by Person(s)

Generally, report all gambling winnings on the “Other

Receiving Gambling Winnings, if another person is entitled to

income” line of Form 1040. You can deduct gambling losses

any part of these winnings. Give Form 5754 to the payer, who

as an itemized deduction, but you cannot deduct more than

will use Form 5754 to prepare Form W-2G for each person

your winnings. Keep an accurate record of your winnings and

listed as a winner.

losses, and be able to prove those amounts with receipts,

Future developments. For the latest information about

tickets, statements, or similar items that you have saved. For

developments related to Form W-2G and its instructions, such

additional information, see Pub. 529, Miscellaneous

as legislation enacted after they were published, go to

Deductions, and Pub. 525, Taxable and Nontaxable Income.

Form W-2g - Certain Gambling Winnings - 2017 Page 5

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