JackieCPA Posted March 7, 2020 Report Share Posted March 7, 2020 Client this year went gambling and brought to me a HUGE stack of W-2Gs. I can just group them together right? I don't have to actually put in each one separate? This might be a dumb question, but a few of us here at the office are on the side of grouping them and others say you have to do each separate. Quote Link to comment Share on other sites More sharing options...
ILLMAS Posted March 7, 2020 Report Share Posted March 7, 2020 I believe they have one by one, each one requires a transaction number, I did one early this reason and atx gave me an error. Quote Link to comment Share on other sites More sharing options...
grandmabee Posted March 7, 2020 Report Share Posted March 7, 2020 I also enter them one by one BUT I don't put in all the information. I don't do the transaction number and have never heard back on one. I have received an letter when they were missing a W-2G being reported. At that time I just totaled and put in gambling winnings entered no W-2G. my total didn't match all the W-2G's the letter was a long one listing every W-2g they had and saying we didn't claim any of them. Took awhile to get it fixed. We were just off one W-2G not all of them. They smacked on a big under reporting penalty too, but was able to fix it all and just claim the small missing amount 1 Quote Link to comment Share on other sites More sharing options...
Abby Normal Posted March 7, 2020 Report Share Posted March 7, 2020 We enter totals by Casino. Hopefully there isn't a new red efile error on the W2Gs this year, but if there is, I'll just skip the W2G screen and override the other income line. Edit: You're good to enter totals. I just tested one and the W2G only requires name, addr and EIN of casino. You can leave the rest blank, except for withholdings. 1 Quote Link to comment Share on other sites More sharing options...
Pacun Posted March 7, 2020 Report Share Posted March 7, 2020 Charge for each W2G and input each of them. Count them all and label them accordingly. One of my clients brought 27 of them and I labeled them 1/27, 2/27, 3/27, 4/24.... 27/27. My client lost a lot of money and blamed it on his friend. Am I wrong to assume that he also lost one of the W2G and will blame it on me when the IRS sends him a letter? 2 Quote Link to comment Share on other sites More sharing options...
Max W Posted March 8, 2020 Report Share Posted March 8, 2020 If the return is mailed in, you don't have to enter all that garbage. Just add 'em up and enter the total. For E-filing, according the rules for W2G, you can aggregate amounts from the same casino, for the same type of bet on a 24 hour gambling day, which means you can start on one day and finish the 24 hours on the next day. Rhe larger problem is getting clients to substantiate their losses. Quote Link to comment Share on other sites More sharing options...
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