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FORMS W-2G Gambling Winnings


MOBEE

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Taxpayer has over 75 form w-2g's from casino winnings.   Does each one need to be entered into software individually or can a total be entered for each casino.  Lots of input if it's not really needed.  Final answer on the return will be the same. 

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11 hours ago, NECPA in NEBRASKA said:

I have not had any questioned by the IRS when I have grouped a lot by casino as long as I have the fed ID#. It has been at least three years since I have done this and so far, so good. Thank Heavens, I only have a couple of customers that gamble that often. 

Group every year. Have never heard a peep from IRS. The IRS just checks that the total reported is => W2Gs filed. Scan the W2Gs in case you get a matching notice, and run a tape twice to be sure of your number.

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Tape???  Use Excel, one column for initial entry and the next for "verify."  Makes it easy to spot the numbers that don't match if totals don't agree.  I understand that some accountant types don't feel like they're working unless they hear the loud grind of the adding machine, but c'mon make life easier.

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9 hours ago, SaraEA said:

Tape???  Use Excel, one column for initial entry and the next for "verify."  Makes it easy to spot the numbers that don't match if totals don't agree.  I understand that some accountant types don't feel like they're working unless they hear the loud grind of the adding machine, but c'mon make life easier.

Or a third with the formula - (Column A - Column B);  zeros are even easier to see.  :lol: 

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I like to keep a link to a custom excel spreadsheet handy on the desktop.  This one has long columns for addition & subtraction, plus a few for multiplication and division operations. They can be color coded for a quick visual reference.  And if a tape backup is needed, I just hit the "print" button.  

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