Quote:
Originally Posted by Lesmurphy7's Wife
Tax/HEM question.
How can Les use filters in HEM to get the total amount of monies won and the total amount of monies lost?? Not the net of both, but each individual total?? Thx in advance!
Les, I'm pretty sure this has been proven to be a myth and/or an incorrect interpretation of the law. There is no "definite correct way" to do it, but you certainly won't be punished for NOT doing it this specific way. My CPA told me the best way to do it was by how much money I deposited into my bank during the calendar year (as opposed to actual table winnings, which aren't technically in your pocket until you cash out of the site). If you ask five different accountants, I'm sure you'll get five different responses on how to file, but you should be fine as long as you file honestly and aren't trying to cheat the system.