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Re: new to both taxes and poker
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[ QUOTE ] I agree that paying taxes on gambling winnings is an area with a lot of gray and all that. I had another question. I have been playing poker "recreationally" for a few years before I started giving the game any seriousness, therefore I was more of a loser than a winner. Do we get to disount these losses when filing? Now that I am winning more than losing, do I report winnings? The thing is, I did not file in the years that I lost money, so I'm not sure on that matter although I have heard that you can claim a deduction on gambling losses. Confused, Mike [/ QUOTE ] Loses do not carry over from one year to the next. [/ QUOTE ] Some business losses can carry over and be used as deductions the next year. Not true with gambling? (I don't know). |
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