Originally Posted by mr_tea
Hello I have a question, so say someone plays poker as a hobby but does make an amount of cash. Does he have to declare this amount? Say he has another job makes around 50-60k, and he wins 10k playing poker/year. Is there any need to declare this amount? And what if he improves his game and starts making say 20k.
Ive made 200k so far this year, I have not had to report it, and I will not. There is no tax on poker winnings and its a super gray area if you should pay taxes if poker is your full time job. This clearly is not your friends full time job, so he shouldnt even have to put it under income. I put down I make some random low number like 15.5k-18.5k per year and i live on a lakefront property rofl, i actually get money back because im "poor". Its just fantastic I wouldnt worry about it our system is somewhat of a joke.