W-2G
Business & Finance abbreviation · Tax
| Stands for | Certain Gambling Winnings (IRS Form W-2G) |
|---|---|
| Categories | Business & Finance |
W-2G stands for Certain Gambling Winnings (IRS Form W-2G), a tax abbreviation.
Casinos, racetracks, lotteries and other gaming operators issue this form when a payout exceeds reporting thresholds, such as a large slot jackpot or a big keno or poker tournament prize. It reports the winnings and any federal tax withheld.
Example: The casino handed me a W-2G before paying out the slot jackpot.
Usage notes
All gambling winnings are taxable whether or not a W-2G is issued. Losses are deductible only by itemizers and only up to the amount of winnings, and legislation enacted in 2025 limits the deduction to 90% of losses starting in 2026. Some large prizes are subject to mandatory 24% federal withholding.
Related abbreviations
More tax abbreviations
- 1031 – Like-kind exchange (Internal Revenue Code section 1031)
- 1040 – U.S. Individual Income Tax Return (IRS Form 1040)
- 1040-ES – Estimated Tax for Individuals (IRS Form 1040-ES)
- 1040-NR – U.S. Nonresident Alien Income Tax Return (IRS Form 1040-NR)
- 1040-SR – U.S. Tax Return for Seniors (IRS Form 1040-SR)
- 1040-X – Amended U.S. Individual Income Tax Return (IRS Form 1040-X)
- 1041 – U.S. Income Tax Return for Estates and Trusts (IRS Form 1041)
- 1065 – U.S. Return of Partnership Income (IRS Form 1065)
- 1095-A – Health Insurance Marketplace Statement (IRS Form 1095-A)
- 1098 – Mortgage Interest Statement (IRS Form 1098)
- 1098-E – Student Loan Interest Statement (IRS Form 1098-E)
- 1098-T – Tuition Statement (IRS Form 1098-T)