Poker Taxes - Filing as a Professional or Recreational Player
Here is the article that Jamie Kerstetter wrote for us. She did a great job - hope you enjoy it. We made it a page in our strategy tab so it will always be available for easy reference.
PokerTaxes - Online & Live Players
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Remember - you should always consult with a tax attorney to ensure that your individual situation is assessed by a legal professional and that the right decisions are made for you on your taxes.
I got lucky - I only did it incorrectly 1 year - and if corrected it would not result in me owing additional taxes so I am just going to leave it. The important thing is that I have been very diligent in saving recents - for virtually everything. I keep my tournament entry receipts, hotel, food, airline, taxis, etc. One thing I can tell you that is absolutely not reliable is the reports you get from your player's clubs on your slot machine and table play. The Venetian showed me at a profit of over $1k last year - no way in hell was that accurate. I was definitely down that much lol.