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Old 08-23-2005, 04:58 PM
AL5AcE AL5AcE is offline
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Join Date: Jan 2005
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Posts: 51
Default Re: Who Pays Taxes on Poker Earnings? (POLL)

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lol I can see the situation now. The gov't will see that I filed taxes this year and see some huge AGI that never existed before and notice that I don't have a job and am 19 years old. They will then see this huge amount for a deduction and audit my ass so quick I won't even have time to load up pokertracker. But anyway... that chart someone linked me to about being able to deduct state expenses or whatever... even if you are making 90k AGI for the year the deduction for my state was only around 656... unless i'm supposed to haev a different # of exemptions than 1.. i don't even know what exemptions are.

This seems like such a big headache... i feel as though if i start reporting now my % chance to get audited goes up, and if that were to happen at this point i've got money that I havent been keeping records for... wtf do i do about that? Just start filing and get audited? Alot of the money I made when just starting out in poker a long time ago was from a few nice finishes in step 5 mini steps.. a win on an MTT.. and a buncha SNGs... and poker tracker does'nt even track this accurately unless you're importing the tournament HHs which I wasn't doing at the time.

If i were to just report my profits up to this point and then start keeping records from here on out I wonder if that would be fine...

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Yea, I have the same questions as Python49.
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