Taxes for Poker Players 101

[z28dreams]

Hi all,

This forum will soon contain lots of information for poker players on tax law, deductions, and how optimize your tax returns.

In the meantime, here are some resources you can use:

General Gambling Tax Information
http://www.gambling-law-us.com/Articles-Notes/online-gambling-tax.htm

Cardplayer Article on Taxes
http://www.cardplayer.com/magazine/article/13166

Pocket 5's Poker Tax Q&A
http://www.pocketfives.com/Tax-QA

In Canada?  Tax information for poker players here:
http://forumserver.twoplustwo.com/showthread.php?t=7

More general questions here

Credit to UglyOwl's 2p2 Post:

1. Only made a small amount playing poker last year, what to do about taxes:

http://forumserver.twoplustwo.com/sh...d.php?t=171188

2. What to expect for an audit:

http://forumserver.twoplustwo.com/sh...d.php?t=156455

3. What can you deduct:

http://forumserver.twoplustwo.com/sh...d.php?t=173784

4. Finding a tax professional that deals with poker:

http://forumserver.twoplustwo.com/sh...ad.php?t=87510

5. Standard deduction problems and gambling losses:

http://forumserver.twoplustwo.com/sh...d.php?t=172999

6. "I have no idea how to deal with taxes":

http://forumserver.twoplustwo.com/sh...ad.php?t=88924

7. What is a session:

http://forumserver.twoplustwo.com/sh...d.php?t=163941

8. Is it income if I haven't cashed out:

http://forumserver.twoplustwo.com/sh...d.php?t=154738


If you have any more threads or info you'd like to link to, or are a CPA and would like to write a guideline, we'd love for you to make a post!