IRS Form W-2G Instructions for 2022

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How to fill out IRS Form W2-G for 2022 Tax Year?

Updated on August 29, 2022 - 10:30 AM by Admin, TaxBandits

Form W-2G is an IRS form to report certain gambling winnings and federal income withholding on those winnings. To help you fill Form W-2G for the tax year 2022, we have provided step-by-step instructions in this article.

In this article, we cover the following topics:

1. What is the purpose of W2-G?

The main purpose of Form W-2G is to report income that comes from gambling and the federal withholding on the gambling winnings. The gambling activities include racing, sports, lotteries, bingo and slot machines.

Gambling establishments must send Form W-2G to their customers who had winnings as following:

  • $1200 or more from Bingo or slot machines
  • $1500 or more from a keno game
  • More than $5,000 from a poker tournament
  • $600 or more from any type of gambling activity and at least 300 times the amount
    of the wager.

Note: All winnings from gambling are subjected to federal withholding.

2. Line by Line Instructions for filing Form W-2G

Form W-2G has 18 boxes to complete. The following section will explain the instructions to
fill each box.

  • Box 1 - Reportable winnings

    Enter the amount you won from the gambling activity.

  • Box 2 - Date Won

    Enter the date when you won the gambling.

  • Box 3 - Type of wager

    Enter the applicable type of wager. There are 9 wager types.

Horse racetrack Dog racetrack
Jai-alai State-conducted lottery
Keno Bingo
Slot machines Poker winnings
Raffle Any other type of gambling winnings
  • Box 4 - Federal income tax withheld

    Enter the federal income tax withheld, whether regular gambling withholding or backup withholding.

  • Box 5 - Transaction

    Enter the values in box 5 only if applicable. Box 5 is applicable only if you have selected State-conducted lottery, Keno, Bingo, Slot machines, or Poker winnings. If you selected Horse racetrack, Dog racetrack, Jai-alai, or Any other type of gambling winnings, Box 5 is not applicable.

  • Box 6 - Race

    Enter the race related to the winning ticket if applicable. Box 6 is not applicable if State-conducted lottery, Keno, Bingo, Slot machines or Poker winnings are selected in Type of wager (Box 3).

  • Box 7 - Winnings from identical wages

    Enter the amount in Box 7 only if applicable. Box 7 is not applicable.

3. When is the deadline to file Form W2-G?

The deadline to file Form W-2G with the IRS is March 31. This is the deadline to file this form with the IRS, it is also the deadline to distribute copies of Form W-2G to recipients.

4. How to E-file W2-G Forms with TaxBandits?

E-filing Form W-2G with TaxBandits is a simple process that can be completed in minutes! Once you have gathered all of the required information for Form W-2G, follow these steps.

  • Enter the Form W-2G Details
  • Review Form W-2G Information
  • Transmit it to the IRS

TaxBandits offers the e filing solution as low as $0.80/form. We also support online access services and electronic signature options. Also you can use our postal mailing option to send recipient copies to your recipients.