N
no1_bluffmaster
Rising Star
Silver Level
Just few questions about tax.
1) Do you pay tax in United State on earnings from online poker? What if poker site is not US origin and it pays in other currency?
2) Do you pay tax on earnings from casino tournaments? How about WPT/wsop?
3) If tax needs to be paid, do we have to deduct the amount we spent on gambling (not only the buy-in for winning tournament but all gambling throughout the year). Just like stocks, you pay tax on earnings but you deduct your investments.
Reply will be appreciated.
Thanks.
1) Do you pay tax in United State on earnings from online poker? What if poker site is not US origin and it pays in other currency?
2) Do you pay tax on earnings from casino tournaments? How about WPT/wsop?
3) If tax needs to be paid, do we have to deduct the amount we spent on gambling (not only the buy-in for winning tournament but all gambling throughout the year). Just like stocks, you pay tax on earnings but you deduct your investments.
Reply will be appreciated.
Thanks.