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Legislation for Poker & Income Taxes for Poker Players Discussions of various poker-related laws and steps players can take to push for better laws.

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Old 04-02-2011, 02:19 PM   #1
incog27
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Appropriate code for professional gambler?

I'm doing an online tax filing, and it's asking me what the code for the business activity is on Schedule C. All that it has under Entertainment/Gambling is "713200 - Gambling Industries." I looked this up and it's to do with running gambling businesses, not gambling for a living.

Any ideas on what the appropriate code for a professional gambler might be?
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Old 04-02-2011, 06:35 PM   #2
incog27
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Re: Appropriate code for professional gambler?

bump?
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Old 04-02-2011, 08:33 PM   #3
freedom.fries
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Re: Appropriate code for professional gambler?

9999 or something like that for "other"
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Old 04-02-2011, 11:22 PM   #4
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Re: Appropriate code for professional gambler?

Try this very obscure link: https://forumserver.twoplustwo.com/57...2007-a-437114/

If the answer you seek is not on the first page, seek until ye find the "search" option. The wise man chooses "search this thread."

And if that don't work, there be this most arcane and hidden link: https://forumserver.twoplustwo.com/57...ts-faq-740589/

But for those who seek the ultimate illumination regarding these most dangerous and byzantine meanderings of the tax code: http://www.taxabletalk.com/

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Old 04-03-2011, 01:29 AM   #5
incog27
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Re: Appropriate code for professional gambler?

Much obliged. I think I'll get my late night/early morning tax obscura reading groove on!
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Old 04-03-2011, 01:03 PM   #6
fjbourne
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Re: Appropriate code for professional gambler?

Can we use 27-2099 and the title "Professional Poker Player" ie the one Michael set up with the dept of labor? Or is that for something else?

https://forumserver.twoplustwo.com/57...r-code-986098/
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Old 04-03-2011, 05:38 PM   #7
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Re: Appropriate code for professional gambler?

Quote:
Originally Posted by fjbourne View Post
Can we use 27-2099 and the title "Professional Poker Player" ie the one Michael set up with the dept of labor? Or is that for something else?

https://forumserver.twoplustwo.com/57...r-code-986098/
That's not the same as the IRS codes.
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Old 04-04-2011, 02:42 AM   #8
fjbourne
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Re: Appropriate code for professional gambler?

has anyone found the code? I read/searched both those threads and google and still haven't found anything :/
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Old 04-04-2011, 04:00 AM   #9
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Re: Appropriate code for professional gambler?

Since it doesn't fit any of the specific categories in the Business Codes shown on the IRS Schedule C Instructions (pages C-9,10,11), you can use Code 999999 Unclassified Establishments.
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Old 04-04-2011, 02:55 PM   #10
fjbourne
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Re: Appropriate code for professional gambler?

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Originally Posted by PokerXanadu View Post
Since it doesn't fit any of the specific categories in the Business Codes shown on the IRS Schedule C Instructions (pages C-9,10,11), you can use Code 999999 Unclassified Establishments.
Thank you very much PokerXanadu. Appreciate it. Do you use the term "professional gambler" or "professional poker player" ? Just curious if it matters at all as obv I think one sounds better than the other to future lenders/employers
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Old 04-04-2011, 02:57 PM   #11
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Re: Appropriate code for professional gambler?

Quote:
Originally Posted by fjbourne View Post
Thank you very much PokerXanadu. Appreciate it. Do you use the term "professional gambler" or "professional poker player" ? Just curious if it matters at all as obv I think one sounds better than the other to future lenders/employers
I don't think it matters.
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Old 06-24-2019, 11:59 AM   #12
nlcatter
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Re: Appropriate code for professional gambler?

good post by you
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Old 01-06-2020, 06:07 PM   #13
Toonces
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Re: Appropriate code for professional gambler?

For what it is worth, my accountant does the tax returns for many professional gamblers (and has written a book). On my Schedule C, she uses for me 713200: "Gambling Industries"
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Old 01-08-2020, 06:26 PM   #14
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Re: Appropriate code for professional gambler?

Quote:
Originally Posted by Toonces View Post
For what it is worth, my accountant does the tax returns for many professional gamblers (and has written a book). On my Schedule C, she uses for me 713200: "Gambling Industries"
I doubt that's appropriate:

Quote:
7132 - Gambling Industries
This industry group comprises establishments (except casino hotels) primarily engaged in operating gambling facilities, such as casinos, bingo halls, and video gaming terminals, or in the provision of gambling services, such as lotteries and off-track betting.
https://www.naics.com/naics-code-description/?code=7132
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Old 04-09-2020, 12:15 PM   #15
BradleyT
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Re: Appropriate code for professional gambler?

Well Russ Fox has used 713200 on my returns for 3 years. If anyone knows it's likely him.
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Old 04-10-2020, 01:42 PM   #16
KittyMrow123
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Re: Appropriate code for professional gambler?

Should we declare ourselves as Professional Poker Players or Professional Gamblers?

I mainly played poker but got some rewards in free sports bets.
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