Re: Who Pays Taxes on Poker Earnings? (POLL)
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bad form.
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not really, this was the advice I was given by my CPA. Essentially if I pay taxes on everything that is reportable. Live cash & carry income for me is less than 10K, hence I don't report it. I see your point and technically your correct, but I'm just living by the IRS guidelines for gambling income. They know this is a big gaping hole in the tax code, if I was depositing my live play winnings then this would of course be a different situation.
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