Iowa Income Tax and Gambling Gains/Losses

Below you will find examples of tax returns addressing gambling winnings and losses, particularly for out-of-state taxpayers. You will need Acrobat Reader to view the forms. It is free from Adobe.com.

Iowa Return: Taxpayers should show their gains on line 14 of the IA 1040. Taxpayers may use the federal Schedule A or the Iowa Schedule A to deduct losses. Losses can be deducted on Schedule A only up to the amount of gains reported on line 14 of the IA 1040. On the Iowa Schedule A, losses are shown on line 25.

Example 1

Non-Resident with Gambling Income, Itemized Deductions

Iowa 1040

Iowa 126

W-2G

W-2

Example 2

Non-Resident with Gambling Income, Filing Status 3 (Married Filing Separately)

Iowa 1040

Iowa 126

W-2G

W-2 - You

W-2 - Spouse