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Screen W2G - Gambling Winnings (1040)
Source data entry
The UltraTax CS Source Data Entry utility enables you to enter data on facsimile versions of forms your clients submit for the preparation of their tax returns. Once the facsimile forms are completed, you can export the data and transfer it into your client data files via the data sharing feature. For more information including a list of available facsimiles, refer to the UltraTax CS Source Data Entry overview.
General Information
The gambling information is used in several locations and calculations on the return. UltraTax CS also prepares a Gambling Winnings Report, which lists the names and amounts entered in this screen.
Payer's name
The payer's name in this field is used as the unit description. This field is mandatory.
State
A postal code entry is required for proper state processing. This code is used by the various state applications to help determine in-state and out-of-state amounts.
State use
Some states do not tax certain state lottery winnings. If the taxpayer received a W-2G for qualifying lottery winnings, enter code
2
in the State use
field in this screen. If a W-2G was not issued, enter the lottery winnings and State use code 2
in the Other income
statement in the federal Income screen.If applicable, enter a state use code or select a code from the fieldview. The codes that are available in this field are specific to the state postal code entered in the
State
field. If state use codes are not applicable to the entered state, this field will be disabled (shaded). The available state use codes are listed in the fieldview and in the following table.Code | Description |
|---|---|
1 | 100% excludable gambling income: AR, MS |
2 | Excludable state lotto: AZ, CA, ID, MI, NJ, OR, PA |
3 | State lotto: CT, [DC], GA, IN, MA |
4 | Excludable riverboat/pari-mutuel winnings: IL |
note
- [ ]denotes state use codes that are available when the District of Columbia return is attached to the open client, even when the District of Columbia postal code is not entered in the corresponding State field.
- Enter a state use code3for nonresident Connecticut filers to make the lottery winnings taxable on Schedule CT-SI.
- Enter a state use code3for Georgia filers with Georgia withholding on Form G-2LP, Withholding on Sales or Assignment of Lottery Payments.
- Indiana:Effective for tax year 2016, Indiana restricts the deduction for Hoosier Lottery winnings on the current year return to annuity payments from Hoosier Lottery drawings held prior to July 1, 2002. The entire gross winnings from the federal W2G screen, Box 1, is included in the calculation of the deduction based on state postal codeIN,State usecode3, andDate wonprior to 7/1/2002 on the federal W2G screen. Use the INAdj screen to force the deduction amount to report on Schedule 2 or Schedule C.
Professional gambler
Enter
X
to report that this client is a professional gambler. The winnings are not reported on Form 1040 as other income. You must enter these earnings on Schedule C.Community property designation
If the taxpayer is married, files a separate federal return, and resides in one of the following community property states - AZ, CA, ID, LA, NM, NV, TX, WA, or WI (or for registered domestic partners, files a Single or Head of Household federal return, and resides in CA, NV or WA) - use this field to identify whether or not the gambling winnings are community property. By default, a blank entry (i.e. no entry) is treated as community property and an entry of
N
as non-community property (i.e. separate property). W2G units indicated as community property will be allocated 50/50 to the taxpayer and the spouse when two separate clients are created via the Filing Status Optimization utility with the Split income according to Community Property rules option enabled.For more information about the Filing Status Optimization utility and the option for community property returns, refer to the Using the Filing Status Optimization utility (1040) and Filing Status Optimization dialog.
note
- This field is disabled if a community property state return is not attached or the taxpayer's primary residence indicated on the 1040 screen is not a community property state.
- Any entry in this field will proforma to all subsequent years, if applicable.
Delete on next year's proforma
Enter
X
in this field if you do not want the W-2G to proforma to the following year.W-2G Facsimile
If you are filing the return electronically, you must enter all information reported on the W-2G. Returns not being filed electronically need only the
Payer's name
, Gambling winnings
, and any withholdings fields completed.Payer's state ID number
Enter the State ID number, as shown on the W-2G, if there is state or local withholding.
note
Indiana returns only:
The State ID number must be between 10 and 14 digits. If necessary, add leading zeros. For example, 12345678 should be entered as 0012345678. If the W-2G does not show a State ID number, enter the federal employer ID number in this field. This information is required by the Indiana Department of Revenue for returns processed electronically.State winnings
Enter the amount of state winnings in this field to complete state two-dimensional (2D) bar codes and/or electronic filing records for select states when state withholding is also present. The entry does not affect state return calculations.
Local winnings
Enter the amount of state winnings in this field to complete state two-dimensional (2D) bar codes and/or electronic filing records for select states when state withholding is also present. The entry does not affect state return calculations.