View Single Post
  #10  
Old 01-09-2007, 03:44 PM
phish phish is offline
Senior Member
 
Join Date: Sep 2003
Posts: 1,091
Default Re: Awkward tax situation.

[ QUOTE ]

My dad talked to an accountant and he said our options were for my dad to claim that he won the $50k and then I claim what I have won from October on.

[/ QUOTE ]

If that's the advice your accountant gave you, then he is truly incompetent and dishonest to boot. Because not only is he advising your father to lie on his taxes, but to lie in such a way as to incurred additional unnecessary tax liability.

Nobody in the Federal Government cares that you played poker underage. Declare it as your income and be done with it.

And as for explaining the 50K transfer from your father's account to yours in the event he gets audited: well, surprise of surprises, the truth is the only thing you need to tell to explain that.
Reply With Quote