Re: Still working on 2006 Taxes
It is not "illegal" to net your winnings and losses.
"Illegal" implies that there is a law against doing something and the mere act of doing it will cause you to be arrested and punished (ie: jailed).
If you net your wins and losses as a recreational player, your taxes will be filed improperly but not illegally. You cant be arrested or jailed for merely improperly filing your taxes.
OK, so Im a nit about this, but it gets old reading tax advice from every Tom, Dick and Harry who just spout out anything right off the top of their head.
A very high percentage of tax advice I read here is just flat wrong. In this case, he just misworded it, but in alot of cases the advice is flat wrong.
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