[ginko]

Hi, I guess you think not reporting the money is foolish. Fair enough.


To be clear, I plan to pay tax's on ALL of my winnings. I'm not trying to 'screw' the IRS. The more money I save, the more money I make, the more money the IRS makes when I finally cash out.


Try thinking it from this scenerio. Say I have 100k in my bankroll online. I've cashed out 50k. I report I've made 150k and I pay 50k on tax's. The next year, I cash out all of my bankroll and some new winnings, lets say 300k.

The IRS expects me to pay tax on 300k even though I already payed tax on 100k of it. How do I explain to them I already payed tax on that money, I just havnt cashed it out yet? They will probably audit me, right?

Anyways, thanks for the time and the sarcasm.