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[QUOTE="hobonc, post: 2220109, member: 68636"]
Actually it falls under gambling winnings (or losses, but only to the extent that you have winnings those losses can offset). In America, you'll get a form like a w-2 from the entity that organized the tournament if the winnings are over a certain amount. I think it may be as low as $600. This form is called a 1099-G. The "G" stands for gambling. I don't feel like firing up my software to verify it but I think this is taxed like any other income  if I remember correctly. It can bump you into a higher tax bracket which means any previous withholdings may be insufficient.

You would have to declare any money over a certain amount if you brought cash across the border. I'm sure a quick google search could tell you how much that amount is. In the US, any transaction where cash in excess of $10,000 is exchanged must be reported to the Federal Government. So if you were to have it wired into your account, your financial institution would be required to report it.
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