Tax Category for winning money W-2G

Options
Stephen R
Stephen R Member ✭✭
edited July 5 in Reports (Windows)

FYI, I was lucky to win some money at the casino on the slots. I received an IRS Form W-2G. They took out FED withholdings. This is how I set it up so my income/tax reports showed correctly.

I created a Personal Income Category titled "Casino Winnings" linked to tax form W-2G Gross Income and a second one for Personal Expense titled "Casino Fed wh" linked to tax form W-2G Fed wh. I could have done a third one for State wh if it had been needed.

Now all my tax reports and Planning Tax Center areas calculate correctly.

Hope this is helpful, Steve

Answers

  • Quicken Kristina
    Quicken Kristina Moderator mod
    Options

    Hello @Stephen R,

    Thank you for coming to the Community to share this information! Also, congratulations on your win!

    Thank you!

    Quicken Kristina

    Make sure to sign up for the email digest to see a round up of your top posts.