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[QUOTE="RogueRivered, post: 1039533, member: 45593"]
None of this counts unless you're a professional poker player. There are rules regarding how to declare this to the IRS and have it approved. Being self-employed in some other field doesn't count.

You have to keep your own records of wins or losses. The sites don't do it for you. They are off-shore. That's why our government doesn't like unregulated Internet gaming. Regulated casinos in the U.S. have to report to the IRS or withhold some winnings right off the bat.

In your $100 dollar loss example, I'd say if you lost it all at once, then you don't need to report anything. But that's not how it usually happens. You usually lose some, then win some, then lose some, then win some, etc, until you finally lose it all. It that case, you need to keep a log of it all, and report your winnings, which can be offset on your itemized deductions by your losses. See the my long post above quoting from the IRS Publication.

The U.S. has a self-reporting tax system; it's up to you to claim your income. If you don't and they find out about it, it can be messy.
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