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Old 11-22-2005, 08:16 PM
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Default paying taxes on online poker

For all you taxpayers out there:

Can someone pay taxes on winnings by simply writing the dollar amount in the blank for "income from business, investments, etc" which is usually used for 1099 earnings? Or are you required to attach a log of dates played, locations, winnings, etc?

This brings me to my next question, if you know how much you have made in the calendar year but do not have specific logs, what would be the best way to proceed?

Thanks for any comments or suggestions.
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Old 11-22-2005, 09:15 PM
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Default Re: paying taxes on online poker

As long as you're being honest, and haven't made huge deposits in your bank account that you can't substantiate, then just writing a number in should suffice. There is never an issue unless you're audited. Even when audited if all the money you deposited over the year is accounted for on your return, you should be in the clear.
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