[Rekrul]

I am yet to file.

I have not thought this out but:

Lets say you have 5 million liquid non poker related in ur bank earned from other [censored] to cover the taxes you might have to pay on what the IRS has deemed as your earnings without having to cash out your bankroll.

Year 1 you earn 1 million dollars on online poker, cash out 100k (irrelevant), and pay taxes on the 1 million you earned. (however much that might be....lets just pretend its 500k).

Year 2 you lose 2 million on online poker. No taxes needed.

Year 3 you win 1 million on online poker. You gotta pay taxes on that too? Even if you don't have to you are completely even (actually up the 100k you cashed out) from gambling does the IRS owe you back what you paid taxes on?? (minus the taxes u should owe on the 100k)??????

If the IRS was allowed to pick their spots on when and where to tax what you 'earn' they could decide that every winning day to tax you and to ignore every losing day. Kinda hard to beat that. I know they only do it once a year...but as an on-going poker professional it is possible to run bad for half a year (or more? super super unlikely but still....) and its hard to just draw the line at a one year mark.

My previous years were always small wins and cashing out everything that I earned so paying was very simple and clean as my roll was always less than 20k and going busto to 20k all the time but this year might prove a pain in the ass lol.