Online Poker taxes

BrentSINY · #1 08-14-2004, 10:08 PM

Hi this is my first post and I am not sure if I am posting under the right thread. I am nineteen and have been playing online poker for a little longer than 4 months. I have made over 10 grand so far and was wondering how declaring taxes work. I cannot declare myself independent and it is not my job. Can anybody help me and tell me the best/cheapest way to do this next year. Btw, i play party. Do they send me any information before the tax season

dogmeat · #2 08-14-2004, 11:30 PM

Party will not send you anything, it is up to you to report your net winnings. In your case I would simply report it on line 21, other income: and type in "gambling". If you use Turbotax or some similar software just enter it when it asks about other income. You can check at www.irs.gov and get a look at the tax forms used this last year, and tax rates to figure what you will owe after a standard deduction.

Dogmeat [img]/images/graemlins/spade.gif[/img]

Thythe · #3 08-15-2004, 12:55 AM

[ QUOTE ]
Do they send me any information before the tax season

[/ QUOTE ]

This is probably the funniest thing I have read in a long time. Took me a long time to recover from reading this. Party doesn't give a damn about US taxes and won't be sending you anything.

cardcounter0 · #4 08-15-2004, 01:23 AM

When exactly is the "tax season"?

dogmeat · #5 08-15-2004, 12:35 PM

Between Feb. 15th and April 15th you are allowed to enter the draw for tags. If you are one of the lucky hunters that draws a tag you are allowed to shoot two bucks (using a bow and arrow) from the IRS. If you don't draw tags, feel free to fish, and if you catch anything large, tie it to your bumper and stick a couple arrows in it, then blow your horn at anyone that has a buck tied to their bumper.

Dogmeat [img]/images/graemlins/spade.gif[/img]