Found this on a site:
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Q: A player asks: "If I play poker online, do I have to pay any taxes at the end of the year?"
Whether you are a winner or a loser for the year is irrelevant; it is your results on a session-by-session basis that determines your tax liability. The columnists correctly state above that wins and losses are separate figures and are not netted. In addition, the wins online are added to any wins in face-to-face gambling situations to determine the amount of winnings reported for the year. Finally, the payment of taxes is contingent on lots of things, including the amount of losses from gambling sessions and the other income, losses and deductions the taxpayer has.
For example, assume that A plays online poker and has the following results (each for a session): October 10, win $100; October 15, lose $500, November 4, win $300. A has gambling income of $400. A also has gambling losses from his online play of $500. (You can only deduct losses to the extent of your wins. If A’s only gambling were on this online poker site, he would be able to take $400 as an itemized deduction for gambling losses if he elects to itemize rather than taking the standard deduction.)
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Taken from
http://www.gambling-law-us.com/Artic...-questions.htm
I'm not sure I understand this. [img]/images/graemlins/smile.gif[/img]