Re: My accountant says that I cant...
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my accountant said the same thing. does anyone know why it's not earned income, even though we pay taxes on it? [img]/images/graemlins/confused.gif[/img]
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Lots of sources of income are not considered earned income. Interest you receive on your savings account is not earned income. Bond interest is not earned income. Stock dividends are not earned income. Unless you are cheating on your taxes, you are paying taxes on those sources as well.
For the most part, earned income is compensation for a job performed. For most people, poker is not their job, so their winnings do not qualify.
(Note: I am not a tax professional. I have just read tons on the subject.)
Acme
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