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#21
05-16-2005, 01:48 AM
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reporting
anything $3000 or above in one 24 hour period will be one form. $10000 or above in 24 hours will definitely make to the IRS. I agree though if you have reported as income their is no prob
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#22
05-16-2005, 02:03 AM
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Re: What to do with online winnings?
Does neteller report its transactions to the irs or is it just the banks that do?
If someone withdrew to neteller and then funded the debit card and withdrew the max everyday for however long it took to get the full cash out would this go under the radar? p.s. please don,t respond to this question if it's to lecture on why someone should pay taxes, blah, blah, blah. Many of us have full time jobs and get raped 1/3 of our checks on a weekly basis. Thanks Jay
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#23
05-16-2005, 02:17 AM
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Re: What to do with online winnings?
[ QUOTE ]
Just show receits you lost a bigger amount gambling. The IRS respects receits. It's really that simple. [/ QUOTE ] ummm, no it isn't. They can look into your bank records and it will pretty obvious how much you have made. In my case...if I try to report that I lost money on gambling then the IRS would wonder how the hell I've been able to live as I have no other source of income.
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