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United States Online Poker & Taxes
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[QUOTE="Jillychemung, post: 2550209, member: 34081"] Answering the 2nd question 1st, it is not illegal to play online and winnings are not ill-gotten gains. As for paying taxes, some people do, many do not. Each situation is different. A lot of it depends on the real amount, your likelyhood to be audited such that the taxing authorities would discover the winnings, whether online poker is your 'job', etc. It's the same question if you are a sports bettor withe a local bookie albut there would be more of a paper trail with online poker winnings. If you believe that you have a large enough profit from online poker to worry about it then you also have enough $$ to engage a CPA that specializes in gambling winnings. I know I would as I use a regular CPA anyway for my taxes. [/QUOTE]
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