Re:What Winning $250k at Poker Taught Me About Money
by baking on Wednesday March 27, 2019 @03:51PM
(#19505225)
If you fail to keep a receipt for a $10k entry fee I think that's on you.
Edit: I think you can't carry over losses from prior years, so if you lose money one year and make money the next, your taxes on your net earnings can be higher. Rule of thumb for professional poker players: If you don't have a profitable tax year, it is time to quit.
Edit: I think you can't carry over losses from prior years, so if you lose money one year and make money the next, your taxes on your net earnings can be higher. Rule of thumb for professional poker players: If you don't have a profitable tax year, it is time to quit.