W-2G Forms › What is Form W-2G? Gambling Winnings Reporting Explained
At a Glance
Understanding IRS Form W-2G
Form W-2G (Certain Gambling Winnings) is used to report gambling winnings and any federal income tax withheld from those winnings. Payers must issue this form to winners who meet specific dollar thresholds.
Who Must File Form W-2G?
Form W-2G must be filed by any person who pays gambling winnings that meet the reporting thresholds. Payers include:
- Casinos and gaming establishments
- State lotteries and sweepstakes operators
- Horse and dog racetracks
- Jai alai frontons
- Card rooms and poker tournaments
- Online gambling platforms
Form W-2G Box Breakdown
| Box | Description |
|---|---|
| 1 | Reportable winnings |
| 2 | Date won |
| 3 | Type of wager |
| 4 | Federal income tax withheld |
| 5 | Transaction |
| 6 | Race |
| 7 | Winnings from identical wagers |
| 8 | Cashier |
Reporting Thresholds
Form W-2G must be issued for the following types of winnings:
- $1,200 or more from bingo or slot machines
- $1,500 or more from keno (reduced by the wager)
- $5,000 or more from poker tournaments (reduced by the buy-in)
- $600 or more from other gambling if the payout is at least 300 times the wager
For more details on thresholds, see our W-2G reporting thresholds guide.
E-File Form W-2G with BoomTax
E-file your Form W-2G with the IRS using BoomTax. Our platform handles bulk filing for casinos and gaming operators.
Import Your Form W-2G Data
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Filing Deadlines
- Winner copy: January 31
- IRS filing (paper): February 28
- IRS filing (electronic): March 31
External Resources
W-2G Reporting Thresholds Quick Reference
| Gambling Type | Threshold | Notes |
|---|---|---|
| Slot Machines | $1,200+ | Not reduced by wager |
| Bingo | $1,200+ | Not reduced by wager |
| Keno | $1,500+ | Reduced by wager amount |
| Poker Tournaments | $5,000+ | Reduced by buy-in |
| Lotteries/Sweepstakes | $600+ | Must be 300x wager |
| Horse/Dog Racing | $600+ | Must be 300x wager |
Frequently Asked Questions About Form W-2G
Yes. All gambling winnings are taxable income, regardless of whether you receive a Form W-2G. The W-2G is only issued when winnings exceed specific thresholds. You are legally required to report all gambling income on your tax return, including smaller wins from table games, sports betting, and other activities that may not trigger a W-2G.
Yes, but with limitations. You can deduct gambling losses only up to the amount of your gambling winnings. To claim this deduction, you must itemize deductions on Schedule A. You cannot deduct losses that exceed your winnings, and you cannot carry forward gambling losses to future years. Keep detailed records of your wins and losses to support your deductions.
Federal income tax withholding at 24% is required when:
- Winnings exceed $5,000 from sweepstakes, wagering pools, or lotteries (if at least 300x the wager)
- The winner fails to provide a valid taxpayer identification number (backup withholding)
Note: Withholding is not required on slot machine, bingo, or keno winnings (unless backup withholding applies).
Yes, licensed online gambling platforms and sportsbooks are required to issue Form W-2G when your winnings meet the reporting thresholds. The same rules apply whether you gamble online or in person. If you win a reportable amount, the platform will request your taxpayer information and issue a W-2G by January 31 of the following year.
Non-cash prizes such as cars, trips, or merchandise are also taxable at their fair market value. The payer will issue a Form W-2G reporting the fair market value of the prize. You will owe income tax on this amount even though you received property instead of cash. If taxes are not withheld from a cash portion, you may need to make estimated tax payments.
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BoomTax and its affiliates do not provide tax, legal, or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. You should consult your own tax, legal, and accounting advisors prior to engaging in any transaction.