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  Poker - Tax
 
  #1  
08-03-2006, 5:29 PM
sid
New Member
 
Plays at: Paradise
Likes: holdem
Posts: 2
Tax

Hello... this is probably a stupid question but here goes!!

Do you have to pay any tax on winning on on-line poker? I have heard that you need to pay on the intrest you earn... is this true?
 

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  #2  
08-03-2006, 5:57 PM
Osmann
Expert Member
 
Location: Denmark
Plays at: Interpoker
Likes: Omaha, Stud
Posts: 233
I think you have to pay taxes for your yearly profit on gambling in most countries, but unless you are a big time winner nobody will ever know that you didn't pay them. For the specific details of your country, maybe somebody can tell you more, if you say where you are from.
  #3  
08-03-2006, 6:00 PM
t1riel
Beware Of The Shortstack!
 
Location: Massachusetts
Plays at: Not Banned
Likes: Holdem/Hi-Lo
Posts: 5,421
In the US, if you're gambling winnings are less than $10,000 for the year you don't have to claim them. That's the way it was explained to me but you know tax laws, they have new ones every year.

This thread might help:

Don`t Understand taxes Please Help. Anyone.
  #4  
08-03-2006, 6:16 PM
juiceeQ
Is it hot in here?
 
Location: Jackson, CA
Plays at: Poker Stars
Likes: NL Holdem
Posts: 13,422
Tax schmax. I don't win enough to worry about it. I do often wonder...what if I were to win, say, one of the Jackpot SNGs at Titan to the tune of $15,000? How am I going to explain that one to Uncle Sam? Seeing as how online gambling is basically illegal (what a load of crap) in the US. Would my winnings be forfeit?
 

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