FAQs: Gambling Winnings

1. In valuing my winnings or in determining whether the winnings meet the reporting threshold, may I subtract amounts that I lost?

No. Report the exact gross amount of any winnings over $200 that you received regardless of the amount you lost.

2. I won a car in a raffle. How do I report that?

In the “Other Income” column, write “raffle winnings” and provide the fair market value of the new car. You may elect to identify the item won as a car in Block A, but you need not do so.

3. Do I have to report my spouse’s gambling winnings?

No. By statute, you only have to report your spouse’s sources of earned and investment income. Income that does not fall into either of these categories (what OGE terms “other non-investment income”) can be excluded. Additional examples of “other non-investment income” are scholarships, awards, and prizes. Your own gambling winnings are reportable, however.

Although you do not have to report your spouse’s winnings, you may disclose the winnings if you so choose. Note the source in Block A and write “spouse’s gambling winnings” in the “Other Income” column. 

 

This guide is not intended to provide investment advice, and you should not rely on statements in this guide when making investment decisions.

Note: To return to the previous page, close this browser window.