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Old 08-06-2004, 02:09 PM
J.R. J.R. is offline
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Default Re: Nice win, now I have tax questions

Perhaps this is more a practical consideration, but since I presume party isn't going to open up their records to the IRS, all the IRS has potential access to is your transfers between sites and neteller. If you only reported the transactions between neteller and a site, how would the IRS have any basis to assert you did not appropriately recorded each session, as for all they know you logged onto a site, played on esession and won a whole bunch, which you cashed out. You would only be reported net wins but (other than the smell test's common sense/statistical disbelief that you always won or only played one continuos session), how could the IRS proves you were netting and not recording each winning and losing session individually (assuming a session is when you site down at a table and ends when you get up, even though your chips stay at the site).

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