[DeadMoneyDad]

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As beeing not from the US I am curious how the tax return works for US residents.

Does this mean that even those who aren't professional poker players have to keep notes on all tournaments played and can deduct the buy-ins without ITM finishes from the whitholding? So if they can do so, what's about traveling costs etc.?

Thanks
Shadow

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For a non-professional gambler you can not deduct ofther expenses. You also can not "net" out your ITM vs. non-cash buy-ins. ITM cashes are net of the buy-in for that session. Each session is it's own event. All ITM cashes net of buy-in's are added to your gross income. All your buy-in where you didn't cash are added together and deductible up to the total of winnings but must be intemized. Even a break-even year yeilds a tax payment for most filers, in some cases a negative year can yeild a tax payment depending on your filing circumstances.


D$D