Re: Rakeback, taxes, and an argument for the IRS
If rakeback doesn't count as income, then rake doesn't count as a deduction, and you should pay tax on the full amount you made.
That is to say, if you win $10,000, but pay $6000 in rake, then your account balance only goes up by $4000. Feel free to pay tax on the full $10,000, since you think rake doesn't count.
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