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Old 10-31-2005, 07:51 PM
BlindingLaser BlindingLaser is offline
Junior Member
 
Join Date: Dec 2004
Posts: 9
Default Re: yes another TAX question....

Okay, I began playing in April of this year. I have Pokertracker, and at the end of each month I have tabulated my total winnings. I also have recorded my rakeback for each month. I am mostly a ring game player, and I did not keep very good records of my tournaments for the first couple months, but have since rectified this. I can come up with a reasonable estimate of my tournament play by subtracting my ring game winnings, my bonii, and my rakeback from my total winnings.

I have several questions:

The first is, if I can exactly determine my net (wins - losses), is that enough? If it is sufficient, then I have nothing further: I've kept track of my bankroll each month, and I know I will be able to determine exactly my net.

The second is, if that's not sufficient, what should I do if I feel that Pokertracker is materially mis-stating my winnings? I'm not sure how often it has happened, but I remember one session where I looked at the cashier, and it said that I was about even, but Pokertracker said I was up substantially.

Thirdly, how should I estimate my tournaments if I need to itemize those? I can probably make a rough guess as to how many I played, my ITM%, and so on, but I did not keep very good records when I first started playing them, and thus my estimate might be horrible.

Thanks for all of your help, I really appreciate it.

Editted to add:

At what point does it become "correct" to file as a pro? I heard something about a level of income being the criterion.
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