Two Poker Taxes Questions
So, I have two questions regarding taxes on earnings from live play.
1. If you go into a casino, sit down and get back up hours later with $1000 profit do you just claim the winnings on your taxes? Or will the casino give you forms for the winnings, so you can have it all settled before you walk out?
2. If you cash in a tournament (WSOP, WPT...) will they deduct taxes as soon as you are finished and just give you what money is technically yours? Or do they give you the entire sum, and leave you to deal with it on your own?