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[QUOTE="hornellfred, post: 861161, member: 40190"]
I have done many returns for gamblers before, but never for poker players and I know the laws are different as far as this goes. The problem with winning say $1500 on a slot machine is that you have to itemize your losses and if you do not have enough other deductions in reality you do not get to write of the $1500 even if you lost way more than that (which most do). The money derieved from poker winnings is considered by the IRS to be illegally obtained. I got this from an IRS bulletin in the 2006 tax season and am trying to find it. You still must pay taxes on your winnings as you are on any illegally obtained money. Playing poker online is not illegal but the winnings are condidered illegally obtained. If a tax court has changed this I am not aware of it. The LAW says you must claim ALL gambling winnings, even the fifty bucks won at the church raffle. The reality is that almost no one does this and only claim the amounts reported as winnings to the IRS. With the government so against internet poker, I would agree with alien genius that you do want to be extra careful. Also what I said was it is illegal to give the money to friends as dexters post stated I quoted the wrong message.
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