Thread: poker taxes
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Old 10-24-2004, 04:49 AM
Senor Choppy Senor Choppy is offline
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Join Date: Feb 2003
Posts: 320
Default Re: poker taxes

I'm really not the person to ask, but no one else is responding.

Everything I learned about the subject I found online. There is a ton of erroneous information out there, but if you find 10 sources with answers to a specific question and see 8 with the same answer, chances are it's accurate.

I keep a journal for online play (Statking, actually), and for B&M I do the same but also try and get any kind of receipt that confirms I was at the casino on that day and time (ATM receipts, ones from the deli, whatever). I don't think there's any set in stone standards, so basically, keep anything you might be of use for if you happened to get audited. Just saying you lost a random amount of money gambling isn't going to fly, there has to be some kind of paper trail.

Before the year is over, while you still have a chance to lower your tax burden, it would be a good idea to talk to an accountant so you aren't totally blind-sided in April.
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