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Originally Posted by Yearbookpoker I'm pretty sure even if you win just $100 or so you have to report it. So if you won the 10k you would also have to report it. Like everyone realizes though, they can't really catch you. Unless you tell them the IRS has no way of knowing that you even have a computer. I know that most people probably don't report poker winnings and losses to the IRS, but I would if I won quite a bit of money. Also too just like I said you are supposed to report not only winnings, but your losses too. |
You can not deduct your losses from your winnings unless poker is your profession. If you win 10k in one casino and lose 5k in another you'd have to report 10k of winnings.