FORMS W-2G Gambling Winnings

[MOBEE]

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. 

[Lynn EA USTCP in Louisiana]

With that many, it is reasonable to do a total per casino source. 

[Jack from Ohio]

Grouping does not work for 1099-R forms.  I don't know if the IRS system will be looking to match each W-2G for dollar amounts or not.

Charge per entry.  "This is the extra cost of winning."

[grandmabee]

Only problem is if they are missing one and then the CP2000 letter comes with a whole list of "missing W-2g's"

then you have to go one by one to find out what is missing.  I know from experience.  Input all now.

[NECPA in NEBRASKA]

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. 

[Abby Normal]

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.

[SaraEA]

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.

[Jim Oh Bkkr]

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.   

[JohnH]

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.