Online Gambling Taxes Legality-New York

This is a discussion on Online Gambling Taxes Legality-New York within the Tax Issues forum, part of the BUSINESS & FINANCE LAW category; I want to play in an online tournament at an online poker site. I have played but my subconcious has ...

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Old Sep 1st, 2009, 07:28 PM   #1
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Default Online Gambling Taxes Legality-New York

I want to play in an online tournament at an online poker site. I have played but my subconcious has kept me at a loss. I fear that if I win, cash out and claim on my taxes that the money would be sized and I would suffer some recourse.

I want to write a book which has regard to my forum name and do not want to cause any problems regarding credibillity due to playing online.

I don't break the law with the exception of a speeding tickets. I know there are off shore accounts and things of that nature but even if you did such things you still need to pay taxes as a US citizen so you are in the same boat.

Is there a legal way to play poker online cash out and pay your taxes without the worry of prosecution.

If not please say no so I will never play again. If so I would like to play and win back at least some of my loses where were induced out of losing time with my family and the fear of breaking the law.
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