Re: So who is filing as a pro for their 2006 taxes?
Although poker is not my sole source of income, I filed a Schedule C for my poker income for 2005, and I anticipate doing the same for 2006, as my poker income is already higher than it was for 2005. Declaring your poker income is legal, whereas failure to do so is illegal. You need to consult with an accountant to determine if it makes more sense to file as a pro vs. declaring your winnings as income from a hobby. But in either case, the income needs to be declared if it exceeds some small threshold, which I believe is $600.
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