Re: Awful WSOP news from PokerStars
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Do you pay taxes on your online poker store purchases???
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You are supposed to, yes.
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Why refunds and rebates are not taxable. The points and store purchases are a basically a rebate of the rake, and seem like the should be tax free just like my cash back on my credit card which I can also redeem in a 'store' they offer.
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You are correct, FPPs and store purchases are a 'price adjustment' or 'rebate' of rake paid. They are not taxable.
However, getting cash for a seat to the WSOP in a tourney, is an 'award' or a 'prize' and is taxable.
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