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The IRS permits you to use per-session recording, which means that instead of recording whether you won or lost each time you pull the slot machine, you can simply record your total for the session. Your records should include the date and type of gambling, where you gambled and if you gambled with anyone else, such as a home poker game. Copyright © Zacks Investment ResearchAt the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors. How to report gambling losses on tax return. Record KeepingAs you gamble during the year, you need to keep records of your winnings and losses so that you can support whatever figures you report on your taxes. If you win more than $600, you should receive a Form W-2G from the casino.
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