[Enon]

[ QUOTE ]
Logically it makes no sense to me: If you have money you've won in an offshore account, playing with an offshore casino and that money never comes to the US but remains in play offshore, at what point are you required to pay US taxes? What happens if, right after you pay taxes, you donkey off all your money? I doubt you'd be getting a refund.

[/ QUOTE ]

i've done you a favor and highlighted the only correct thought you had.

treat poker like a business, because if you're filing your tax returns in the US, that's what it is for intents and purposes. when you make a bet and win (revenue), you owe taxes on it. period. doesn't matter where the bet was made, how it was made etc.

your business is making bets and your wins are your revenues. somehow there are loss deductions that come into play and what not but in general, your revenues are related directly to your tax burden.

in short: you pay on what you WON, not what you have taken offline.

Barron (from enon's acct)