Posted: Mon, 21 Aug 2006, 1:35pm

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Is there a max amount you can win without having to report it? or do I have to report my $10 SNG win if thats all the poker I played this year?

Also, do you have to pay taxes on your winnings if you don't withdrawl them from the poker site? You only pay on the money that you withdrew to your bank acount right?
From the link that is in the second post you have report any income you make from poker. In my case of the original $50 I deposited, I lost $44 in the first couple of days. Since then I have gotten it back up to $55. All that money getting back to the orignal deposit is a profit so I have to claim $49 in profits if don't play again at all this year even though I have only netted $5.

If I am able to itimize and fill out Schedule A I can claim $44 in losses.

All in all pretty unfair not being able to just claim net earnings.