Re: 2nd in 3.30 rebuy cashing out?
[ QUOTE ]
Assuming you're in the US -- cashing out is irrelevant as far as taxes are concerned. The income happens as soon as you win the tournament; it doesn't matter when you move the money into the US. So just withdraw whatever amount you want to take out in one check.
[/ QUOTE ]"My friend" reports what he cashes out, not counting it as income till after it's out of his poker account. He treats it like a stock market account where the gains aren't realized until the stock is sold (you get your check).
This isn't what the man wants you to do, but they don't have access to your Stars account balance, so F em.
Luckily, I never win, so I don't have this problem [img]/images/graemlins/smile.gif[/img]
|