Re: Pay Taxes on Earnings?
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Lets say for the sake of discussion I won 300.00 playing online poker in 2004 and I live in the usa, but also lets say I collected $1500.00 in poker site deposit bonuses.
Would taxes be owed on 300 and the 1500? or just the 300. I don't consider bonus money to be won, I consider it to be money "not lost".
Of course this could be a grey area, I doubt us tax laws define money earned while bonus whoring.
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Doesn't really matter whether you consider the money "won", it is still income. You can search here and find half a dozen long posts about internet poker and taxes, but I have a feeling we will have a lot better idea what the boundaries are whenever a few 2p2 regulars get audited. I wouldn't wish an audit on anyone, but it will be educational for all of us assuming it gets posted publicly here.
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