online gambling and taxes

[eastbay]

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If you are SMART you've been keeping records for all the deposits you've made to cover the loses you've had.

In the end you take the amount you've made minus the amount you've deposited to get your net winnings.


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Actually that's not at all how the US tax system works for gambling winnings.

Every winning session is income. Every losing session is a potential deduction. This is FAR different than your income being your net win.

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