taxes

[peko]

I recently did very well in a couple of tournaments at pokerstars, in the area of about $13,000. I've won tournaments before but never this big. So I decided it's time to do a little research. Is online poker taxed? Do I need to worry about reporting this income? I've won live tournaments before and filled out the tax forms, but I don't know what the situation is online. If anyone has any answers for me please let me know.

[BigBluffer]

[ QUOTE ]
I recently did very well in a couple of tournaments at pokerstars, in the area of about $13,000. I've won tournaments before but never this big. So I decided it's time to do a little research. Is online poker taxed? Do I need to worry about reporting this income? I've won live tournaments before and filled out the tax forms, but I don't know what the situation is online. If anyone has any answers for me please let me know.

[/ QUOTE ]

Thank you for this post. The information has been placed in your file and will be matched against your 2003 Form 1040 when you file it.

Have a pleasant holiday season. We look forward to hearing from you early in the New Year.

Samuel G. Mann
Field Agent
Internal Revenue Service

[ramjam]

</font><blockquote><font class="small">En réponse à:</font><hr />
So I decided it's time to do a little research.

[/ QUOTE ]

If you're American, yes, it's taxable. I guess your research did not include bothering to search the forum for previous discussions of the topic. If you do so, grasshopper, you will find detailed answers to many of your questions.

[umdpoker]

big bluffer, now you wouldn't be bluffin about this would you? hehe

[Frozen]

Look up old posts by 'Frozen' on the subject. They're quite good. /images/graemlins/grin.gif