WPT HOLLYWOOD ME - Owais Ahmed - 2011 Bracelet Winner, 2011 WPT Final Tablist - Page 11 - Selling Shares

No, it's not, well at least not for everyone. It's a free seat you won. Have a look at this article written by my accountant, Russ Fox.

http://www.taxabletalk.com/2013/06/2...s-a-good-idea/

Some can offset the $30,000 you'd likely owe in taxes from the $111K free seat (in the result of you not cashing said $111K event, your tax bracket, any other applicable taxes, etc) if you're having a winning year in the five-figure range but this certainly is not for everyone, at least that's the impression I got from it, I could be wrong.

FWIW idk who OP is and or how much he plays, his tot BI's for the year, how much (if any) he is up for the year, etc. More or less just saying the $111K free seat giveaway wasn't for everyone.

"However, I could use the gambling loss to offset other gambling winnings from that year. If the winner has other gambling income and doesn’t cash in the event, he or she can use the $111,111 as a gambling loss."

virtually same thing with a very minor (27k) difference. Nearly all of it is a wash. Also, WSOP/Caesars may treat it as a satty/mega and never issue a 1099 as no 1099s are issued on any Main Event seat won. interestin article tho.

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01-16-2014 , 12:13 PM

#253

grampabumkin

centurion

Join Date: Jan 2010 Posts: 143

Quote:

Originally Posted by BraveJayhawk

Hidden gem

Playing the 2-7 NL with him a couple years ago, I played a hand poorly. He wasn't in the hand, but thought it was necessary to look me right in the eye and say something to the effect of 'that was terrible.' Hated him starting at that moment. Love this thread

Wait who told you ¨that was horrible¨ Owais, professor ben or George Lind?

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01-17-2014 , 12:39 PM

#254

RichGangi

Laughable false & highly douchey

Join Date: Aug 2005 Posts: 9,546

Bumpity bump bump

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01-17-2014 , 02:22 PM

#255

BraveJayhawk

Carpal \'Tunnel

Join Date: Aug 2003 Posts: 8,575

Quote:

Originally Posted by grampabumkin

Wait who told you ¨that was horrible¨ Owais, professor ben or George Lind?

Owais

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01-21-2014 , 01:40 PM

#256

RichGangi

Laughable false & highly douchey

Join Date: Aug 2005 Posts: 9,546

Quote

02-04-2014 , 11:42 AM

#257

unta8

veteran

Join Date: Jun 2011 Posts: 2,207

Is it fair to bump this every time Owais wins a tournament? I think so!

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02-04-2014 , 05:25 PM

#258

Turb0Licious

aka Turb0

Join Date: Jul 2009 Posts: 5,054

Quote:

Originally Posted by Unta8

Is it fair to bump this every time Owais wins a tournament? I think so!

Find it funny that you bump this and tweet at him calling him a lying scumbag etc. All this coming from the dude who sold fake purses or whatever on eBay and scammed a ton of ppl?

I know you've posted that it was a long time ago, you were young blah blah. Just hilarious that you post ITT and tweet at him that's all.

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02-04-2014 , 06:24 PM

#259

unta8

veteran

Join Date: Jun 2011 Posts: 2,207

Quote:

Originally Posted by Turb0Licious

Yup you got me.

Last edited by unta8; 02-04-2014 at 06:32 PM.

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02-04-2014 , 06:26 PM

#260

unta8

veteran

Join Date: Jun 2011 Posts: 2,207

Last edited by unta8; 02-04-2014 at 06:27 PM. Reason: double post

Quote

02-04-2014 , 08:56 PM

#261

Brown Keeper

Pooh-Bah

Join Date: Nov 2010 Posts: 4,542

Quote:

Originally Posted by Turb0Licious

Don't mind Hunter, he has a great deal of maturing to do.

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02-25-2015 , 09:18 PM

#262

jmrsplatt

stranger

Join Date: Jan 2014 Posts: 10

oops

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