Cashing Out From Pokerstars

[Zystro]

Greetings,

I recently finished 4th in the rebuy at stars for a pretty nice chunk of change and was looking to cash some of it out for my vacation and what not. I was wondering what the limitations are for cashing out before the money is to be taxed or if there is a limit on how much you can cash out each week/ month. Any help would be greatly appreciated.

Thanks,
Zystro

[biondino]

This is just a question and not a recommendation or anything, but what's to stop you transferring the winnings to a trusted friend outside the US and them sending you cash? Is this what they call money laundering?

(I assume you're talking several thousand dollars here if you're worrying about tax?)

[Scrimmage]

Americans pay tax on winnings from gambling? WTF?

I hope it isn't that way here in Canada, never thought about it.

[badandy519]

Americans pay tax on winnings from gambling? WTF?

I hope it isn't that way here in Canada, never thought about it.

only when we have to

[Warpe]

Americans pay tax on winnings from gambling? WTF?

I hope it isn't that way here in Canada, never thought about it.

Non-taxable in Canada if won through recreational gambling. Don't worry about it.

[jyms]

No tax in canada on any gambling as a non primary income. We got it good eh warpe!