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 Schedule 1 (Form 1040 or 1040-SR). 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
or 1040-SR 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/FormW2G.