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Old 02-11-2007, 03:39 AM
Bobo Fett Bobo Fett is offline
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Join Date: May 2006
Location: Canada, Eh!
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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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Yes, this is exactly what I want. The problem is, the person who REALLY earned it is the one in the lower tax bracket. My concern is that if there were ever an audit it might appear that we are fraudulently filing it under the person in the lower bracket to pay less taxes, when in fact we are actually just doing the right thing. Is there any way to prove who REALLY played?
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