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Old 02-11-2007, 03:32 AM
Rainbow Warrior Rainbow Warrior is offline
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Join Date: Sep 2002
Location: The Great White North
Posts: 586
Default Re: Canadian Online Poker Tax Thread

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If a person, for whatever reason, were to have earned money through their own play, but it appeared for all intents and purposes to have been earned by someone else, is there any way for the person who REALLY earned it to claim on their taxes and NOT be entirely screwed in the case of an audit?

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Appearances are only that. The person who "really earned it" is always the one who owes the taxes, no matter how it appears. I can't put my money in someone elses savings account, earn interest and have them claim it if it's MY principal.

And.. regarding bonuses and rakeback, I've always thought of them as being a part of my poker income because, in effect, they are both just a reduction in the rake paid to play poker thereby increasing my poker income.
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