Jim Kuhn
02-28-2004, 06:16 PM
What is really unfair is this situation. You play 10 sessions. You win $1000 each of five sessions and lose $1000 each of five sessions. You break even for the year. If you take the standard deduction you must declare $5000 for your winnings but can't deduct any of your losses. Although you broke even for the year you must pay your marginal tax rate on $5000. If you do not you can be found guilty of income tax evasion. I urge everyone to check out this link:
http://www.lp.org/issues/
Our current government needs a wake up call. They cater to big businesses and the political action committees (PAC's). It will not be long before the current government does everything they can to make it illegal to play poker online. This will be driven from B&M casinos lining the pockets of politicians.
http://www.lp.org/issues/
Our current government needs a wake up call. They cater to big businesses and the political action committees (PAC's). It will not be long before the current government does everything they can to make it illegal to play poker online. This will be driven from B&M casinos lining the pockets of politicians.