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Forum: The Stock Market

10-11-2005, 03:09 PM

Replies: 13

Taxes question on investing with poker money

Posted By Ed Miller

Re: Taxes question on investing with poker money

[ QUOTE ]
Ed, that's very good advice. One problem, though, is that you can only contribute up to your earned income to a Roth IRA. Fish won't have any earned income, unless he has a summer job or...

Forum: The Stock Market

10-11-2005, 12:26 AM

Replies: 13

Taxes question on investing with poker money

Posted By Ed Miller

Re: Taxes question on investing with poker money

[ QUOTE ]
I'm only 18 and have never filed for taxes before...in college as a dependant so not sure as to what I should legally file.

[/ QUOTE ]

If you invest any money in your name, you'll...

Forum: The Stock Market

10-10-2005, 02:53 PM

Replies: 13

Taxes question on investing with poker money

Posted By Ed Miller

Re: Taxes question on investing with poker money

[ QUOTE ]
Maybe I should clarify, I wont file untill I make over 15k ish in a year. I've only made about 5k but thats in 6 months so I just took the 10k figure. However would this money be safe to...

Forum: The Stock Market

10-10-2005, 02:49 PM

Replies: 13

Taxes question on investing with poker money

Posted By Ed Miller

Re: Taxes question on investing with poker money

[ QUOTE ]
True, but it isnt likely they are going to audit you. Ive had a couple different lawyers advise me that the IRS will quite likely just leave internet poker players alone. Plus its hard...

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