Net Gambling Winnings
Enter your net gambling winnings. You can subtract gambling or lottery losses from your winnings that occur in the same year. If the net amount is zero or less, make no entry. If you net gambling winnings with gambling losses, include a statement to that effect.
Common types of gambling winnings include:
•• All casino and track betting
•• New Jersey Lottery winnings (only individual prizes exceeding $10,000)
•• Any multistate lottery in which New Jersey participates (Mega Millions, Powerball), but only individual prizes exceeding $10,000
•• All out-of-state lottery winnings regardless of amount
If you net gambling winnings with gambling losses, you may be required to substantiate the losses used to offset your winnings.
Acceptable proof of losses includes:
•• Casino win/loss statements
•• Daily log or journal of wins and losses
•• Canceled checks
•• Losing racetrack pari-mutuel tickets
•• Losing lottery tickets
For more information, see Technical Bulletin TB-20(R).
Part-Year Residents. Include only amounts you received while you were a resident of New Jersey.