Quote:
Originally Posted by a dewd
That shouldn't matter. You are 'participating in a sweepstakes'. How are you reporting gains and losses? You are going to enter a single number, profit or loss. You don't itemize the individual game. If you bought $100 worth of State sponsored scratch off lottery tickets, there is no breakdown of what tickets you played or how much each returned. The only 100% assurance you can get as to how to file will be from your accountant. relying on me or a rep at Global would be very risky.
In poker, unless you're filing as a pro, you are supposed to itemize "sessions." If you bought 100 lottery tickets a day, you'd probably have to report each day as a different session as well.
What a session at Global Poker is turns out to be really important to those of us living in states where, for state income tax purposes, gambling winnings are taxed but gambling losses are not deductible. This means we have to pay for every winning session without being able to subtract the losing sessions. As you can imagine this can end up very, very bad.
If every period between deposit and cashout is a session - and I'm tempted by that interpretation since Sweeps aren't money - then that's great for us.