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Old 11-23-2005, 03:56 AM
obsidian obsidian is offline
Senior Member
 
Join Date: Mar 2005
Location: IL
Posts: 343
Default Re: Paying taxes on Poker Winnings...

This thing that really sucks about taxes is that the laws were made with absolutely no clue of a non-professional poker player's situation. All this crap about tracking sessions is really, really lame. It can screw you out of things like Roth IRAs since your gross income is a combination of all your winning sessions. Then you need to itemize all your deduction from your losing sessions.

In Illinois, if I don't file as a professional I am going to have to pay taxes on ALL my winning sessions without being able to deduct any of my losing sessions. This is quite possibly the most stupid and unfair law ever.
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