Re: what to do with your winnings...
Most of it goes towards school. Everything is paid up right now and I have earned one semester's worth so far this summer. I took a grand from my one and only tourney win and stuck in my ROTH IRA. Once the full year is paid for I'll start building myself up for the tax whip. I only get poker related stuff (books) through the pso.com and the site comps.
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hey, is there a thread discussing this more in depth? like amounts that i have to declare (>$500), cashouts that the bank will notice (like depositing $10k all of a sudden which hasn't happened for me yet).
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I have also been wondering this lately. I know that there is an amount that if any check is over it gets checked up on. Not sure from who. I want to say $5000, but maybe it's $10000 now.
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