Online Poker and Taxes

joeblo · #1 06-28-2005, 01:56 PM

For those of you who have been playing poker to make a living, how do you deal with taxes? I hope to play full time soon and want to know what kinds of documents I should be keeping and what I need to do to prepare.

Thanks.

I'm sure this post will get lots of "who pays taxes" replies, but any real input would be greatly appreciated.

MegaBet · #2 06-28-2005, 02:00 PM

Are you in the US? Then you SHOULD legally be paying taxes. Many people choose not to, and I'm sure it's not an easy thing to track. If you do a google search, there's plenty on information out there on this.

I am in the UK however, and gambling is tax free! [img]/images/graemlins/laugh.gif[/img]

bluefeet · #3 06-28-2005, 02:00 PM

try a search like this (+taxes ....internet gamling forum). i've seen it discussed often over there.

trdi · #4 06-28-2005, 07:16 PM

Hehe, yeah. I believe it's like that across EU.I sent a question about that to our taxes department and I got an official reply in one month. By "official" I mean that some guys there created a group which researched the whole thing. My question and reply was than copied and sent to archives for future reference.
The reply was, of course - it's gambling, no taxes. [img]/images/graemlins/grin.gif[/img]

MastiffPaul · #5 06-28-2005, 08:07 PM

Oh man, I wanna government that works. [img]/images/graemlins/frown.gif[/img]

GrekeHaus · #6 06-28-2005, 08:08 PM

There are lots of threads about this in the internet forum. Here is a good one.

treeofwisdom7 · #7 06-28-2005, 08:13 PM

everyond in the US pays taxes for poker because everyone is honest. just remember to be honest and pay poker taxes. or if you were dishonest you could say you didnt make any money from poker because you suck. me i cant post winnings to the IRS cuz i dont make any money. yah i just suck in poker no money going to my bank account *IRS* ..

i put money in but nothing comes out really. im not sure where all that money in my bank came from tho