Gambling winnings and losses.

Are they reportable items? Yes, they are.

Generally gambling winnings are considered reportable events regardless of their type (i.e., rafles, lotto, pocker, cassinos, and trips, etc. ). The payer ussually gives you a W-2G with the amouts reportable as income. These winnings are reported in line 21, of your 1040, and losses gets reported on schedule A. You must keep your tickets, receipts and any other statements to proff all winnings and losses reported.