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Old 08-26-2005, 05:29 PM
PrincipalSkinner PrincipalSkinner is offline
Senior Member
 
Join Date: Jan 2005
Posts: 108
Default Re: pokertracker and taxes

My understanding is that the BEST IRS-APPROVED way to determine poker income is (total of winning sessions) minus (total of losing sessions) plus bunuses plus rakeback.

Unfortunately, poker tracker (under the sessions tab) shows number of winning and losing sessions and total won (or lost) but does not give the info as the IRS wants it.

I table-hop a LOT (I have done 734 sessions since August 5, for example). At this rate I will do 12,722 sessions in a year. The thought of having to go through all these sessions tallying up winnings and "losings" is just mind-boggling; expecially considering that all the info is right there in pokertracker, just not presented in the format I need for taxes.

Wouldn't it be desirable if we could get pokertracker Pat to make a small change in the PT programming (under the sessions tab) to show the totals as desired by the IRS (described in the first paragraph above)?

If Pat were to make this change, then preparing our own taxes would be a snap. All we would have to do is start a new database on January 1 and read off the totals on December 31 (or quarterly as needed for estimated tax payments). I would also keep a notebook where I would record rakeback and bonuses received.

I don't have any idea how to use excel or the other number-crunching programs; am somewhat intimidated by them, and would rather not be bothered since this solution seems so simple.

Am I wrong on this, or wouldn't this make it SOOOOO much easier for everybody?? Please give me feedback before I approach Pat about this.

Thanks. [img]/images/graemlins/smile.gif[/img]
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