Re: Quick Tax poll (not whether or not you\'re paying)
After reading The Gambler's Guide to Taxes by Lewis I made a spreadsheet to track my play per session. A session for me is from the moment I open the first table to the moment I close the last one. I rotate tables keeping 4 open most of the time for anywhere from 10 minutes to 2 hours or so. I feel confident that this will be acceptable by the IRS, based on accounts in the book about previous rulings.
According to the book there are no hard fast rules on how to keep your records for internet play. For brink and mortar play the standard is that you should be reporting each table you play at. I think it could be a potential problem to try to report by year, neteller withdrawals, or even by site (deposit to withdrawal).
|