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Old Feb 6, 2013 | 6:35 pm
  #155  
brooklynmatt
 
Join Date: Nov 2010
Location: Brooklyn
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Originally Posted by QuietLion
I assume you mean W-2G. No, you don't need anything from the casino, just your diary. Casino win/loss statements are notoriously inaccurate. The IRS requires you to keep a diary in order to deduct losses. Hardly anyone does.

That being said, you need to report at least the total of all your W-2Gs on line 21 or you will get an automatic letter audit.
Yep w2 thanks for the correction. However, my interpretation of the law is that the diary alone will not suffice and will require further supporting documentation:


'It is important to keep an accurate diary or similar record of your gambling winnings and losses. To deduct your losses, you must be able to provide receipts, tickets, statements or other records that show the amount of both your winnings and losses. Refer to Publication 529, Miscellaneous Deductions, for more information.'

Note the second sentence here.
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