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#4
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I didn't make that much money in 2006 because I was in school for most of the year but my net poker winnings where more than what's on my W-2
Poker: $8300 ($33,500 winnings - $25,200 losses) W-2: $4500 I did my taxes both ways last night and found that my tax liability increased by $819 when I used schedule C to report my poker winnings. TL Schedule A way: $377 TL Schedule C way: $1196 Can someone point me to something from the IRS discussing how the poker income must be reported in my situation. |
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