Gambling Winnings Tax Calculator 2026
Estimate federal tax on gambling winnings for 2026 — 24% withholding, how winnings add to your income, and the new rule that only 90% of gambling losses are deductible (itemizers only).
Estimates only — not tax advice. Tax rules change and depend on your situation; check with the tax authority or a tax professional.
How to use
- 1Enter your gambling winnings, losses and other taxable income.
- 2Say whether you itemize.
- 3See the tax on your winnings and whether withholding covers it.
How it's calculated
Winnings are ordinary income. Losses are deductible only if you itemize, and from 2026 only up to 90% of losses and never more than winnings. Federal withholding is 24% on many large payouts.
Frequently asked questions
What changed in 2026?
Gambling losses are now deductible only up to 90% of the loss amount (still capped at winnings) — so even break-even gamblers can owe tax.
Do I owe tax on small winnings?
Yes — all gambling winnings are taxable income, whether or not you receive a W-2G.
Is 24% withholding the final tax?
No. Your actual rate depends on your bracket — you may owe more or get some back.