Taxes, a new bank account and underage gambling

[tbach24]

I'm 17 and getting my first bank account later this week. I'm depositing the money I've won from poker this summer into it. Since I'm putting money into the bank, I suppose the government will know about it and when I have to do taxes whenever taxes are to be done, will I get in trouble since I won my money through gambling?

[istewart]

Dude, it's like $20.

[DemonDeac]

<----------------- my reaction upon realizing that u actually play poker and dont just post on OOT

[kipin]

I thought you were moving to Texas.

[dtbog]

[ QUOTE ]
I'm 17 and getting my first bank account later this week. I'm depositing the money I've won from poker this summer into it. Since I'm putting money into the bank, I suppose the government will know about it and when I have to do taxes whenever taxes are to be done, will I get in trouble since I won my money through gambling?

[/ QUOTE ]

If it's your first bank account, then they have no idea where you got the money....

.. it could be years worth of birthday presents or babysitting or lawnmowing or who knows what.

I certainly mowed a lot of lawns and never filed a tax return /images/graemlins/wink.gif

I also think that 17 year olds don't get audited too much.

[GuyOnTilt]

If you're opening up both a savings and checking, don't get a savings acct thru your bank. Chances are their rate sucks balls.

3.15% Savings Account (http://www.ingdirect.com/osa_work/)

3.50% Savings Account (http://www.emigrant-direct.com/info.php)

GoT

[lastsamurai]

i wouldnt worry about it unless its over 10 K..

[KaneKungFu123]

you cannot have your own bank account, your mommy has to co-sign with you.

the irs doesnt care about legality of your gambling, they just want their money.

[manpower]

Don't report it, don't worry about it. You're fine.

[tbach24]

[ QUOTE ]
If you're opening up both a savings and checking, don't get a savings acct thru your bank. Chances are their rate sucks balls.

3.15% Savings Account (http://www.ingdirect.com/osa_work/)

3.50% Savings Account (http://www.emigrant-direct.com/info.php)

GoT

[/ QUOTE ]

I'll look into those, thanks.

Thanks to everyone else for the advice.

Don't worry about it. I ain't reporting [censored]. At age 28, you'll be like, F the government, man, I'm keeping this money. They would only worry if you were depositing like $30,000 or something. That is when people would start questioning things. Hell, I depositing about $15,000 this year from credit card loans and haven't heard anything about it and don't expect to.

[jakethebake]

[ QUOTE ]
Don't report it, don't worry about it. You're fine.

[/ QUOTE ]

Seriously. You're fine.