Instructions to Winner
Box 1. The payer must furnish a Form W-2G to you if you
receive:
1. $1,200 or more in gambling winnings from bingo or slot
machines;
2. $1,500 or more in winnings (reduced by the wager) from
keno;
3. More than $5,000 in winnings (reduced by the wager or
buy-in) from a poker tournament;
4. $600 or more in gambling winnings (except winnings from
bingo, keno, slot machines, and poker tournaments) and the
payout is at least 300 times the amount of the wager; or
5. Any other gambling winnings subject to federal income
tax withholding.
Generally, report all gambling winnings on the “Other
income” line of Form 1040. You can deduct gambling losses
as an itemized deduction, but you cannot deduct more than
your winnings. Keep an accurate record of your winnings and
losses, and be able to prove those amounts with receipts,
tickets, statements, or similar items that you have saved. For
additional information, see Pub. 529, Miscellaneous
Deductions, and Pub. 525, Taxable and Nontaxable Income.
Box 4. Any federal income tax withheld on these winnings is
shown in this box. Federal income tax must be withheld on
certain winnings less the wager.
Certain winnings that are not subject to regular gambling
withholding may be subject to backup withholding if you did
not provide your federal identification number to the payer.
Include the amount shown in box 4 on your Form 1040 as
federal income tax withheld. See Pub. 505, Tax Withholding
and Estimated Tax, for additional information.
Signature. You must sign Form W-2G if you are the only
person entitled to the winnings and the winnings are subject
to regular gambling withholding. Return the signed form to the
payer, who will give you your copies.
Other winners. Prepare Form 5754, Statement by Person(s)
Receiving Gambling Winnings, if another person is entitled to
any part of these winnings. Give Form 5754 to the payer, who
will use Form 5754 to prepare Form W-2G for each person
listed as a winner.
Future developments. For the latest information about
developments related to Form W-2G and its instructions, such
as legislation enacted after they were published, go to
www.irs.gov/w2g.