Re: tax question on WSOP cash
I'm pretty sure you don't have to file as a pro. If you file as a pro you do the whole schedule C thing and just the net ends up transferring I believe, but I'm pretty sure if you file normally that you put your winnings in as income and then you put losses in deductions. Where you can get nailed is if it makes your AGI too high and you get hit with AMT.
Disclaimer: I am most certainly not a CPA or someone who has studied Tax law.
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