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Old 04-10-2007, 04:49 AM
agencia1 agencia1 is offline
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Join Date: Jul 2006
Posts: 189
Default taxes and \'passive income\'

just met w my accountant today and he said that i could declare my poker income for 2006 as 'passive income' under gambling income. about 30k actually shows up in my bank account. i was a bit surprised at this but signed off on it. i was under the impression that 'passive income' was generally rent income, interest, etc. systems that had been already set up and didnt require extra labor other than more or less collecting the money.

i was thinking i would have to pay self emplyment tax but he said it wasnt necessary.

if anyone has experience with this i would like to hear.



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