online earnings

breakaway · Oct 19,2006, 01:25 AM

are online earnings reported for tax? If so, how much % do they usually take?

moose · Oct 19,2006, 01:31 AM

In the US yes. Recently...all of it.

jk.

Welcome to the land of the free. Oh wait, that used to be the US. No tax on gambling in Canada unless you turn pro.

pkrfce9 · Oct 19,2006, 08:10 AM

i do not believe that response is technically correct. i agree, no tax on casino earnings. online, if you are silly enough to tell the govt about it, i believe would be fully taxable as regular income. there are tons of threads on this from the past. have a look.

Big E · Oct 19,2006, 08:46 AM

I don't believe anyone here actually plays online, nor do they turn a profit.....that's my story and I'm sticking to it!

I believe Greg is right, any income is taxable....if it's reported.

moose · Oct 19,2006, 01:07 PM

Crap I have to delete my ding ding ding post.

RiverRat33 · Jan 04,2012, 06:09 AM

what you fail to realize , is that if poker playing is your only source of income , then it is not "silly" to report it..it is mandatory. The bottom line is , if you have a regular job , there would be no need to report poker income.

trigs · Jan 04,2012, 09:00 AM

Quote:

Originally Posted by RiverRat33

what you fail to realize , is that if poker playing is your only source of income , then it is not "silly" to report it..it is mandatory. The bottom line is , if you have a regular job , there would be no need to report poker income.

i hope you feel like your advice is being heard despite all these posts you are commenting on are from years ago.

Cerberus · Jan 04,2012, 03:47 PM

Bigbadwoof = Big Brother checking up on all our riches?