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#15
10-22-2004, 09:28 AM
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Re: Generic tax question
In your case do one of two things.
1) just report the net and if you get audited, fall back on the ignorance defense. The IRS can be actually fairly reasonable with setting up payment plans. 2) Report cashouts as wins and deposits as losses. One way or the other, consult a tax accountant. 
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