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Tournaments and Taxes Tournaments and Taxes

07-20-2019 , 06:15 PM
I am probably going to be a WSOP main event regular going forward, my question is what happens if I bust the first 2 years, then run deep and make $40k? It seems unfair to tax the 40k as profit when I'm in the hole for $20k in buyins plus travel rake. A 40% tax rake is gonna be hard to beat! What are current tourney pros thoughts on this?
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