What is a W2G?

Form W-2G reports gambling earnings and tax withholdings. Generally, you will receive a Form W-2G if you receive any of the following:

  • $600 or more in gambling winnings and the payout is at least 300 times the amount of the wager (except winnings from bingo, keno, and slot machines)
  • $1,200 or more in gambling winnings from bingo or slot machines.
  • The winnings (reduced by the wager or buy-in) are more than $5,000 from a poker tournament.
  • $1,500 or more in proceeds (the amount of winnings less the amount of the wager) from keno; OR
  • Any gambling winnings subject to federal income tax withholding.