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[QUOTE="Shady Slim, post: 4834457, member: 316265"]
I have never made/lost enough to even have to worry about it. I juggle pocket change around just for recreation.

There are different forms for winnings, losses and expenses come April. The IRS article will guide you on that.

Use a spreadsheet to track winnings and another for costs. If you have something like QuickBooks, that would be better.

[B]Line 21 of Form 1040[/B] is where  you report all of your winnings. This is just payouts you have recieved. Nothing else.

Gambling losses can be reported under [B]"Other Misc Deductions" Schedule A (Itemized Deductions)[/B] for Form 1040. Track all of your reg cost + fees, money transfer fees, etc these are your cost of doing bizness and are tax deductible up to the amount of your total winnings.

Online poker winnings of $5000 or more should get you a Form W-2G from the poker room. Sports wagers appear to be lower and at the option of the payer for when they are reported, a little fuzzy to me.

Finding data on what dollars are going in/out of your account so far is easy to find. There is a Cashier on ACR that has a menu item for Financial transactions that you can view. Easy to find, but hard to import data from. No option to download. Other poker room clients mileage may vary.
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