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Another tax thread... sorry Another tax thread... sorry
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03-22-2010 , 05:16 PM
#1
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AcePlayerDeluxe
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I play lots of home games and do fairly well in them. I keep track of every session on my iPhone (poker journal). Question is this: Do I need to claim home game win/losses? How would I claim this seeing there are not any slips/receipts at home games to keep a paper record for tax purposes? Is a program that keeps track of sessions good enough (honor system)?
Another tax thread... sorry Quote
03-22-2010 , 05:27 PM
#2
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nevermind... stickies are good! mod delete if you please.
Another tax thread... sorry Quote
03-22-2010 , 05:29 PM
#3
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Not sure if your method of keeping the record would pass IRS scrutiny or not. I might be a good idea to record the win/loss in a written log when you get home that night. Regardless of how you track it these do need to be reported. Where the games take place doesn't matter. There is very little paper trail created by games, even in a casino. Lots of casinos don't even provide a receipt for tournament buy-ins which are the area most likely to have a paper trail.
Another tax thread... sorry Quote
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