[mistrpug]

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That woudl be crazy if I had to record every session I played, or even every day. As it is now I think I will have to do it by when I cash out of pokerstars because I haven't kept records. Also getting worried on the deductions, I bought a new computer and a couple flat screen monitors for poker but I don't have a receit, will I not be able to use it as a deduction now?

Say I make $2000 and tax is 20% of that (so $400 in taxes). If I have $100 that can be deducted from my taxes does that mean I'm now taxed $300, or I'm taxed $2000-$100= 20% * $1900?

thanks for the help

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You're way off man. First off, you don't be able to deduct that stuff unless you file as a business (which the IRS is very tough about so I've heard). As a part time player, just forget that idea.

If you do have deductions, they are subtracted from your gross, not what you pay.

So say you itemize decuctions. First off, you're f'd in that you can't take off the standard deduction of $5000. If you got say $100 of deductions somewhere (taxes paid at the state and local level are deductable for example) you'd deduct that from your total income and you'd have to pay the taxes of that. So in your example, you'd pay taxes on $1900 instead of $2000. And think more along the lines of 25% than 20%.

Sorry if I ruined your day.