Can I file casino winnings separate from my regular income tax? Or must everything be filed at once?

by David A. Caplan, CPA | Jan 25, 2019

I have some W-2G forms from casino winnings, but I also have a W-2 from my job. Am I able to file the W-2G forms now and the rest of my items before April 15? Or am I only allowed to file my taxes one time during the year?

Your taxes are filed on a Form 1040. That is for all of your income. There are many items on the tax return that interact with other items. Therefore, when you file, you must file a complete return. If you file an incomplete return, you would then be required to file an amended return, which would include the items that were left out of the original return. If you file an incomplete return and receive a refund based upon that, you may be required to repay that refund once the full return is filed, possibly including penalties and interest.

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Answered by: David A. Caplan, CPA, is a sole practitioner in Lafayette Hill, Pa.

The responses are based on the limited information provided by the questioner and apply the laws and regulations at the time of posting. Other options could arise as rules and regulations may change over time, including but not limited to the passage of the Tax Cuts and Jobs Act of 2017. They are intended to provide general information, not specific accounting or tax advice; they are not intended or written to be used and cannot be used for the purpose of avoiding or evading taxes or penalties under the IRS code or regulations. Views expressed do not imply an opinion of the PICPA, its officers, directors, employees, or members.
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