Quote:
So you're saying I should put it on my return as 'gambling' winnings instead of leaving it off altogether if I understand correctly.
Thanks!
If you're a pro then call it elf-employment income and be taxed.
If you aren't a pro don't include it at all.
If you are a pro and mislabel it as gambling income, odds are it will be
thought of as #2 above and you won't be taxed and can also claim
in the future you tried but the CRA refused and you will almost
certainly be ok in the future) but its not really right - you are mislabelling your
income to achieve this. You are probably % safe, but still..