Taxes on online winnings

[slickpoppa]

I just read this article on Cardplayer.com and got kind of worried about keeping track of my winnings and filing my taxes. Has anyone out there had any experience filing their taxes?

http://live.cardplayer.com/poker_mag...es/?a_id=13492

[AncientPC]

Read this thread and follow the links in it.

[suckbot]

Obviously, any gambling earnings should be declaired. However, purely out of curiosity, what is the likelihood that these offshore casino/poker rooms are going to report your income to the IRS?

I suppose you could make a case that it might show up through bank deposits, but I'd love to hear some opinions on this.

[Thythe]

Theres a 0% chance the sites will report you. It's when you withdraw to your bank account that you start having problems.

[RED_RAIN]

Anyone have a problem that they could talk about?

[JAque]

The problem is not the casino reporting your winnings, is the bank transactions in order to get the money out.
Pay your taxes.

JAque

[axioma]

anyone know the situation in the UK? im pretty sure we dont pay taxes on gambling winnings.

[Beach-Whale]

That's what I have heard. So maybe I'll move to your country. Where do you live a cheap and nice life in the UK?

[axioma]

if you can put up with the dodgy weather then englands great [img]/images/graemlins/wink.gif[/img]. i live just north of london.

the north of england is considerably cheaper. it depends if you a town or country person. i like my situation because in 30 minuets i can be in the center of london, 10-20 minuets the other way and im in the countryside.

[JAque]

I like most parts of London. The night life is quite interesting to say the least [img]/images/graemlins/smile.gif[/img]

JAque