i wouldnt, but yes i think its over a curtain amout and i think you are over that.
crimson
April 8, 2009
Legally yes, any income, even from gambling should be claimed. That being said, I doubt anything would happen if you didnt claim it, as long as you do the rest of your taxes right.
IBanker
April 11, 2009
Absolutely. Unlike European countries, the US taxes all income that its citizens make.
You can deduct any losses you had *this year* against your $3000 gain. I’d recommend going to the IRS website and doing some research on how, exactly, you’d file.
Shibboleth
April 12, 2009
Yes.
According to the revenue code, all sources of money and wealth are taxable until Congress awards an exclusion. The following sources of income are also taxable:
money found on the ground
ill-gotten gains
money made on a press in the basement
money stolen from a bank
goods purchased with monopoly money and sold for real (capital gain)
Exclusions include things like pensions, state and municipal bonds, military hazard zone pay, etc.
nigel
April 13, 2009
i thought they recently made it illegal to play online poker if you are a us citizen. I know my partypoker account will not let me gamble with real money anymore
i wouldnt, but yes i think its over a curtain amout and i think you are over that.
Legally yes, any income, even from gambling should be claimed. That being said, I doubt anything would happen if you didnt claim it, as long as you do the rest of your taxes right.
Absolutely. Unlike European countries, the US taxes all income that its citizens make.
You can deduct any losses you had *this year* against your $3000 gain. I’d recommend going to the IRS website and doing some research on how, exactly, you’d file.
Yes.
According to the revenue code, all sources of money and wealth are taxable until Congress awards an exclusion. The following sources of income are also taxable:
money found on the ground
ill-gotten gains
money made on a press in the basement
money stolen from a bank
goods purchased with monopoly money and sold for real (capital gain)
Exclusions include things like pensions, state and municipal bonds, military hazard zone pay, etc.
i thought they recently made it illegal to play online poker if you are a us citizen. I know my partypoker account will not let me gamble with real money anymore
Legally, yes you do.