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#431
07-14-2007, 09:40 PM
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Re: ** WSOP ME, $10,000 NLHE, Day 5, Sat., July 14 **
[ QUOTE ]
[ QUOTE ] Two pronouncements, the first of which is probably wrong, and the second of which is definitely wrong. [/ QUOTE ] I have personal experience with Harrahs in this matter. I recently chopped a tournament three-ways. I got $25,000 of the $32,000 first place prize and got a W-2G for $32,000. [/ QUOTE ] You are still definitely wrong if you think you are liable for all of the 32k winnings. 
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#432
07-14-2007, 09:41 PM
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Re: ** WSOP ME, $10,000 NLHE, Day 5, Sat., July 14 **
Yes, which is why this is not a problem for a professional, but is for an amateur, who needs to file a different tax form under these circumstances entirely. However, if you follow through, show that you attempted to get Harrah's to accept the correct tax form, and they refused, and then attach the corect form, with the W-2G, you will probably be alright.
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#433
07-14-2007, 09:42 PM
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Re: ** WSOP ME, $10,000 NLHE, Day 5, Sat., July 14 **
Hansen Not Afraid To Get His Chips In
Gus Hansen, who is currently one of the shorter stack remaining in the field, has gone all in four out of the last six hands he's been dealt. He hasn't yet been called, but if he continues at that pace, it may be just a matter of time until someone looks him up.
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#434
07-14-2007, 09:43 PM
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Re: ** WSOP ME, $10,000 NLHE, Day 5, Sat., July 14 **
Chopping as a pro should not have the same level of tax issues, and if your CPA is saying something else, you should consider getting another one.
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#435
07-14-2007, 09:43 PM
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Re: ** WSOP ME, $10,000 NLHE, Day 5, Sat., July 14 **
[ QUOTE ]
[ QUOTE ] [ QUOTE ] Two pronouncements, the first of which is probably wrong, and the second of which is definitely wrong. [/ QUOTE ] I have personal experience with Harrahs in this matter. I recently chopped a tournament three-ways. I got $25,000 of the $32,000 first place prize and got a W-2G for $32,000. [/ QUOTE ] You are still definitely wrong if you think you are liable for all of the 32k winnings. [/ QUOTE ] Nothing would make me happier. It would save me a couple thousand in taxes. But, the IRS still had $32,000 in income reported to them by Harrahs.
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#436
07-14-2007, 09:44 PM
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Re: ** WSOP ME, $10,000 NLHE, Day 5, Sat., July 14 **
Do you file as a pro?
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#437
07-14-2007, 09:46 PM
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Re: ** WSOP ME, $10,000 NLHE, Day 5, Sat., July 14 **
Hansen Not Afraid To Get His Chips In
Gus Hansen, who is currently one of the shorter stack remaining in the field, has gone all in four of the last six hands he's been dealt. He hasn't yet been called, but if he continues at that pace, it may be just a matter of time until someone looks him up. Ummm, odds he has nothing most of time?? How can no one at the table ever have enough to call?
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#438
07-14-2007, 09:47 PM
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Re: ** WSOP ME, $10,000 NLHE, Day 5, Sat., July 14 **
lol shortstack ninjaments
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#439
07-14-2007, 09:48 PM
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Re: ** WSOP ME, $10,000 NLHE, Day 5, Sat., July 14 **
[ QUOTE ]
Hansen Not Afraid To Get His Chips In Gus Hansen, who is currently one of the shorter stack remaining in the field, has gone all in four of the last six hands he's been dealt. He hasn't yet been called, but if he continues at that pace, it may be just a matter of time until someone looks him up. Ummm, odds he has nothing most of time?? How can no one at the table ever have enough to call? [/ QUOTE ] He's got that intimidating stare thing down .
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