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General Poker
Paying Taxes On Poker?
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[QUOTE="hornellfred, post: 859371, member: 40190"] I am a tax accountant and any winnings are taxable to the IRS. Any winnings from casino winnings over $1,000 must be reported to the IRS. It is $600 for horse racing and lottery. The catch here is that since it it illegal for American citizens to play online poker most of the sites do not report your winnings to the IRS. My advice to avoid problems in the future is to keep track of winnings vrs losing from all types of gambling and claim the profit as misc. income from gambling. If anyone recieves a 1099G for gambling winnings and is not sure what to do with it I will gladly help you out with it. Every tax situation is unique to the individual taxpayer and must be treated that way. If your total winnings for the year are less than $1,000 minus loses I would not worry about it. [/QUOTE]
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Paying Taxes On Poker?
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