Make sure you report any winngs over $600. http://www.wsoctv.com/news/business...asy-football-could-get-you-tax-trouble/nn52H/
By the book, aren't you supposed to track every win/loss, every wager?
So the super-users, who are submitting thousands of entries per NFL weekend --- would be awesome if they dumped a 25,000 page record-book in the IRS's lap.
"Here you go, I made 23,958,205 entries in 2015. Feel free to review."
So the super-users, who are submitting thousands of entries per NFL weekend --- would be awesome if they dumped a 25,000 page record-book in the IRS's lap.
"Here you go, I made 23,958,205 entries in 2015. Feel free to review."
you're supposed to report all income on your tax return, even illegal income (yes the tax code actually mentions reporting illegal income)
so if you make money at anything, you can technically get in tax trouble
selling dope
bowling
cards
fantasy sports
although nobody actually reports that stuff
so if you make money at anything, you can technically get in tax trouble
selling dope
bowling
cards
fantasy sports
although nobody actually reports that stuff
