I hate to bring up this dreaded topic, but I had some winnings during my time on the Borgata online site through 12/31/2013 and I'm unsure what is going on with this. I asked the site to provide me some info. and I was sent an inaccurate win/loss/deposit/withdrawal spreadsheet of some sort.

To try and sort out all of the transactions even just thru 12/31/13 (hundreds) and reconcile all of the wins/losses, satellites, tournament winnings etc. is a complete cluster bomb.

Does anyone know if some kind of tax form reflecting profit/loss will be provided by these sites? There are many other issues that have come to light with the launch of these sites and I'm not optimistic about this going smoothly, but for the sake of the minor winnings I had, I don't want to run into any tax issue.

Any help much appreciated.

-Pike

if your total winnings is under 600$ do not worry about it

The time to start tracking your tax win/loss records for 2013 was Jan 1st 2013.

How many sites did you play on? You may be up on one site but down on the other. Also what fees were you charged?

You will have to try and piece it together at this point.

I'm surprised state-regulated sites won't send you an official tax form.

When you win money (over a certain $ amount) at a casino in my state, or win a lottery win, they'll send you a W-2G or something like that

The issue is that when you play poker you are not playing against the house. You play against the other players at your table. A casino usally won't issue you a W2-x/1099x for winnings at a cash game (maybe in a large tourney event they would) as the winings didn't come from the casino (at least I've never gotten one in LV). They came from the other players. All the casino did was rent you a table & dealer for a fee.

As to on-line I have no idea as I don't play for real money on-line. I'd consult a good accountant who deals with gaming clients.

I assumed, as the sites were State sanctioned, that some sort of tax form reconciling your taxable winnings would be provided. If it's not then I'm in trouble because I play A LOT online and with the data I see available through the site, it's going to take me a month of Sundays to hash this out.

The issue I run into is convoluted stuff like Stages tickets. I have two $500 Stage 5 tix (that I can't seem to use btw) that were earned through numerous wins & losses at different levels. I'm getting a headache even thinking about this...

o snap. if u want to take the easy way out just declare what u withdrew from the site, claim that as your profit. It may not be 100% but it will be close.

withdraws - deposits essentially equals net won, unless u binked some sick tourney or have a **** ton online atm

Ahh, no.


OP, just do the very best you can.

From now on keep track of each individual session you play, the time, the site, and your results +/-.

I can already see so many players are going to disappear from the U.S. sites when they are forced to do this. I just think the IRS needs to change their stance.

For sure. The gambling tax laws are antiquated at best, idiotic at worst, in regards to online poker.