Re: taxes and \'passive income\'
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ok the details so for 2006, the net amount actually entering my bank account was about $30k. about 35k going in and about 5k going out to set up various accounts. poker was my only source of income. the majority played online. and in the end the accountant said i needed to pay about 4k in federal and 1k state taxes. which to me seems v low.
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Especially because you haven't counted winnings that are still online. You need to file as a pro unless there is some more relevant information you left out.
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