[Rockatansky]

[ QUOTE ]
are funds in poker accounts declarable gains

[/ QUOTE ]

There's no question that gains from playing poker are supposed to be reported to the IRS, regardless of where the gains are presently located. As to whether the IRS will know about your gains if they're in an online poker account or in Netteller, I honestly don't know.

I know this isn't what most people want to hear. The fact is, though, that the revenue code defines income as "gains from whatever source derived," and the Supreme Court has interpreted this phrase as granting Congress the power to levy taxes to the extent that is Constitutionally permissible. This generally means that the IRS doesn't care about cute distinctions about where funds are located and won't consider the gains a "wager" because they're currently stashed in an online poker account.

I'm not trying to sound like a know-it-all, I just want people to make sure they get sound advice before assuming that they can stash large amounts poker winnings in Netteller or their poker account and not report them.