Tax reporting hypothetical
Let's say I'm reporting income from online gambling for the first time this year. Hypothetically I made $12000 in 2003. Hypothetically, I first deposited $1500 in several sites in 2001. Is it kosher to report the net of these as income. The $12000 would hypothetically be easily auditable as Neteller transfers to a savings account and the $1500 deposits are hypothetically a combination of Visa and Western Union deposits. Would I have a leg to stand on hypothetically in case of an IRS audit? Thanks for any advise - hypothetical or otherwise. [img]/images/graemlins/grin.gif[/img]
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08-13-2004, 01:03 PM
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