[bcubed72]

[ QUOTE ]
Take an online SNG player, who plays 30 $100 SNGs a day. He could have $100,000 in income and $80,000 in losses.

[/ QUOTE ]

This goes back to the issue of what constitutes a "session." The predominant view I've seen here is the most restrictive: each SNG=1 session, regardless of number played during one time at the computer, multitabling, or whatever.

Tis makes a certain amount of sense in a B+M casino; after all, you sit down at a table, play, then physically get off your arse and wait for the next one. This is NOT the case of internet player who's consistently playing >= 1 SNG for 5 hours straight.

To the best of my knowlege, this has yet to be challenged in court. I'd be willing to believe that a more liberal interpretation of a session might prevail.

Note that, to get in trouble for using this definition of a session, the IRS would have to:
1. Take exception to your figures
2. Audit you
3. Challenge whatever piece of paper you show them
4. Obtain contrary information
5. Take you to court
6. Win

I plan on counting continuous time spent logged on to a website as a "session." I seriously doubt any repurcussions.

Note that the law technically requires a losing player (who may never have even cashed out) to declare winnings. Do you think 1 in 500 do so?