TheseNutsWin
Rock Star
Silver Level
Hi guys, I`ve just started playing poker online in 2008.. i did not win that much so i`m not expecting PS to send me any tax forms.. but some of you already know more about it then i do, so here are few questions i need answers for..
1. How much do you have to win to receive a tax form from pokerstars?
2. Is it a combined amount for the whole year of winnings or 1 win needs to be over that amount? ex. I play 100 tourneys (for one year) and win combined total of 700, or 1 tourney and win 700. Lets say anything above 600 is being put on the tax form. In which case will the tax form be issued? combined? single win over 600 or BOTH?
3. What about cash games? this makes me feel like its the combined amount of winnings for the year...
So here's an example.. tell me if in this case someone would be issued the end of year tax form or not..
I deposit $100 into pokerstars on Jan1st 2008... play 1000 tourneys. combined winnings come out to $1000 dollars , all the winnings are on avarage $40. Will PS issue me a tax form?
Thanks.. I`m asking those questions since this is the first year i started to play online...
1. How much do you have to win to receive a tax form from pokerstars?
2. Is it a combined amount for the whole year of winnings or 1 win needs to be over that amount? ex. I play 100 tourneys (for one year) and win combined total of 700, or 1 tourney and win 700. Lets say anything above 600 is being put on the tax form. In which case will the tax form be issued? combined? single win over 600 or BOTH?
3. What about cash games? this makes me feel like its the combined amount of winnings for the year...
So here's an example.. tell me if in this case someone would be issued the end of year tax form or not..
I deposit $100 into pokerstars on Jan1st 2008... play 1000 tourneys. combined winnings come out to $1000 dollars , all the winnings are on avarage $40. Will PS issue me a tax form?
Thanks.. I`m asking those questions since this is the first year i started to play online...