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Re: Gambling Winnings While Receiving SSI Quoting AlanD From answers to other posts, I gather that while the winnings may still be income despite my same-day loss of them, the fact that I did lose them on the same day may affect the amount of repayment I owe. I am on social security disabilty and won money from ... Answers. Best Answer: Casino winnings are not considered earned income.Therefore any wins at the casino have no effect any social security income. When you file your tax return, the W-2G is reported along with a credit for the tax withheld. If you itemize, you can deduct any gambling losses to the extent of your winnings. SSI and gambling winnings? Will it affect me? : disability Hi am on SSI (I have nerve problems) :-( So I am a horse racing fan, not much of a gambler at all. But recently I made a $15 bet and I won over $3k. Instead of being happy now I'm scared because I'm afraid they are going to take away my SSI :-( I haven't claimed the winnings yet because I don't want to lose my SSI. Retirement Slot Machine winnings - TurboTax® Support Retirement Slot Machine winnings. Good afternoon, My grandmother won $1600 from a slot machine late last year and refused to pay the taxes when she was asked to by the lady at the casino taking down her information.
No. Gambling winnings are not "earned income," and they don't count against the limit for reducing your Social Security payments. Get the help you need with TurboTax Support. Find TurboTax FAQs, ask a question in our community, chat with agent, or give us a call.
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For many of us, gambling means buying the occasional lottery ticket on the way home from work, but the Internal Revenue Service says that casual gambling also includes raffles, casino games, poker, sports betting—and, yes, even fantasy football. When you win, your winnings are …
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