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Old 12-16-2005, 04:11 PM
icepick icepick is offline
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Join Date: Apr 2004
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Default Re: The Tax Man Cometh

[ QUOTE ]
So...if you had a $100K in winning sessions and $50K n losing sessions does that mean your income is $100K and you're in that tax bracket?

[/ QUOTE ]

Yup. And if you itemize, you can deduct the $50k.


[ QUOTE ]
That seems pretty harsh.

[/ QUOTE ]

It is.
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