[iceman5]

If you come up with a good answer, let me know because I have the same problem. Heres how I see it.

1) I dont know exactly what I owe and neither does the IRS, but I want to pay my taxes
2) The IRS most likely would never know about my winnings if I didnt report them, so Im quite sure there wont be a problem with NOT reporting winnings that arent withdrawn yet even though legally they should be reported.
3) When it comes to breaking down wins and losses, there is no clear cut clarifiaction on what a session is when youre online. You could report daily results and call them a session, but why not do it weekly, or monthly? Remember that the IRS doesnt even know youre playing and winning. My personal opinion is that at least 90% of people dont report at all. I have no 1099s. As far as I know, my responsibility is to pay my taxes as truthfully as possible. There is no law saying that I have to keep a spreadsheet of every session I play or my results for every day. I dont have to use PT by law. If I didnt keep any records, the only thing I would know (and the only thing the IRS could prove) would be the deposits going into my bank account from Neteller.

So lets assume that I have no records. Lets assume that I have deposits into my account totaling $80K for the year. Couldnt I just report the $80K as winnings? I know that Im suppossed to seperate wins and losses, but since I have no records (and there is no law requiring me to keep records), what can the IRS do about my reporting my winnings with no losses reported? Would they really care? There is no place to report HOW you won the money. It could be $80K in lottery winnings, so would they even question it?

Like I said , Im trying to do whats right and pay my taxes, but they make it pretty tough to do correctly.