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Old 12-26-2005, 08:45 AM
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Default Re: Tax Question-about money in account not cashed out

Thanks for the responses. Kind of having the last minute tax jitters. Actually drove to the casino today to get my winning/loss statement (couldn't believe they had these). Then the credit card statements, checking account history, CC receipts, fast cash slips, argh! The dates, amounts, witnesses, journals, etc. Of course, then the tax account will interrogate me and demand $500 or so.

Next year I'm going to do everything different. I have this hi-tech microphone/recorder that uses no tapes. This will function as my detailed journal and as a supplement to my paper journal. Next, I will use Pokertracker and create daily logs to back up my oral report. This will be combined with all the receipts mentioned above.

Staying compliant is a real pain. I feel like I have fallen into a great abyss of not-knowingness. I guess that's why I have a tax accountant. Sadly, all of my poker winnings have gone to medical bills. My last withdrawl paid for an MRI, 2 physical therapy sessions and 1 prescription. I guess it could be worse! It's just too bad we can't use deductions against gaming winnings. Sorry for rambling and to reiterate: thanks for the information.

JeffreyREBT "Wherein I don't promise to make you rich without trying, or even trying hard; I do promise to say things that will make you FEEL rich."
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