[Rockatansky]

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You get tax on income, you don't get tax relief from gambling losses unless you can prove that the lost occurred due to operating a gambling business which is possibly illegal in your place without a licence.

So you need to pay tax on your winnings if you declare them. They don't care if you lost it or not.

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My accountant assures me this absolutely untrue, so long as you claim that you are a professional. He says it is indisputable that you may claim losses up to the amount of your winnings.

I am hoping he is right.

Based upon what Jelly posted, one could have earnings of $200K for the year, losses of $100K, and need to pay tax on $200K. This cannot be right, particularly if one's primary source of income is poker.

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This is correct, except for the part about having to be a professional in order to deduct losses. Section 165(d) of the revenue code allows you to deduct gambling losses to the extent that you have gambling gains. There is no requirement that you be a professional gambler in order to do this.

There may be other benefits to having poker playing considered your "trade or business". However, anyone to whom this applies should talk to a knowledgable accountant or tax attorney to determine their best course of action.