tax or no tax?

[pokerg1]

say i won less than 3k from now till next year, do i have to pay taxes?

[jkpoker]

is 3k not considered income these days

[Sniper]

[ QUOTE ]
say i won less than 3k from now till next year, do i have to pay taxes?

[/ QUOTE ]

Do you have no other income?

[cowboy.up]

[ QUOTE ]
say i won less than 3k from now till next year, do i have to pay taxes?

[/ QUOTE ]

A big rule in poker: Don't limit your winnings.

But if you make 3k net, it would still be dependent on your total winning and losing sessions, not the net of them (which I'm guessing you're saying is 3k).

[pokerg1]

my total winnings are less than 3k, and my only income. still pay taxes?? what you mean by losing and winning session( i have to add up all the times i won each table)? 3k is my net winnings. also what is the most i can win without paying taxes in US?

[dollerAday]

Something like 7k.

[Mr. Orange]

according to the 1040 instructions book: If no one can claim you as a dependant you don't have to file a return if you make under $8,450 gross income (single, 16,900 if married)

[DarkKnight]

If you won $3K and never lost then you don't have to file. On the other hand, if your total winning sessions is $30,000 and your total losing sessions is $27,000, then you are required to file.

Lots of definitions of sessions floating around. A table or a day are the two that seem to be most popular.

[pokerg1]

how about if i cashed out 3k and deposited like 500??

[pokerg1]

i dont understand what you mean by winning sessions. it could mean anything

[ilikeaces86_]

I haven't read the op but by default "no tax"