Re: Online Poker Taxes
You are supposed to pay taxes on your slot winnings (less offsetting loses) although they can't really track this unless you win a big jackpot. Online casinos and poker winnings are taxable and leave paper trails.
You are supposed to keep track of your session results and bonuses. Since you have a paper trail of deposits and withdrawals, you have enough to report your online gambling income correctly.
The IRS is most concerned with you paying taxes - so lack of detailed records can be forgiven in the beginning. As you earn more and learn more, they will likely be less forgiving, so start recordkeeping ASAP and don't lose sleep over the initial poor recordkeeping. [img]/images/graemlins/smile.gif[/img]
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