Re: Is r***back taxable income?
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If considered a type of rebate, then maybe not. But if one conceives of it as essentially returning some of your winnings, then it probably is.
Does anyone know definitively one way or the other?
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I don't get why people can't grasp the fact that it's income.
Look, if you 8 tabled at 2/4 all year and made 0BB/100, but made $80,000 in rakeback, do you really thing you haven't made taxable income?
Give me a break, you made 80 grand. Pay taxes on it.
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Yeah, but what if you lost 100K for the year. In the course of losing that 100K, you paid about 240K in rake. In this case, the rakeback could just be considered a partial rebate of fees you've paid.
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