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#1
12-11-2006, 04:31 PM
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How to get gross winnings/gross loss number?
I don't have very good records for 2006, so I know exactly how much I've netted from poker/rakeback/bonii in 2006, but no idea what my gross winnings, gross losses were.
Some of this information is completely irretrievable as sites like PartyPoker aren't going to tell you. How do I file (for 2006)? Thanks. 
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#2
12-12-2006, 02:43 AM
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Re: How to get gross winnings/gross loss number?
Im in the same boat as you.This is the first year ive played online.It was only within the last few months that i realized that netting wasnt legit.I have no records basically.Im just going to use the only records i have,my neteller info and such,and report it the best i can.Its eithor that or not report it,and im not going there.Now that i am better informed,ill cross all my t`s this upcoming year for sure.Its my fault for not learning ahead of time this year,but im just going to report every penny i made the best i can and if some day they challenge it, oh well,i did the best i could honestly with the best intentions you know.
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#3
12-12-2006, 04:53 AM
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Re: How to get gross winnings/gross loss number?
PokerTracker is great for this. If you don't have it, you'll probably just have to do the best you can with the info you have.
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#5
12-12-2006, 09:18 AM
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Re: How to get gross winnings/gross loss number?
[ QUOTE ]
if you use neteller, you can ask them, no? [/ QUOTE ] Neteller dosn't have this information. Gross winnings is the sum of all your winning sessions (i.e. sit at a table with 200, leave with 220, add 20 to the gross) and gross loss is the sum of all your losing sessions (i.e. leave with 180 instead, add 20 to the gross loss). Neteller gives you all your transfers, and I know exactly my net, or how much more money I have than before 2006, but this isn't what they want from recreational gamblers.
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#7
12-12-2006, 11:57 AM
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Re: How to get gross winnings/gross loss number?
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#8
12-12-2006, 03:49 PM
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Re: How to get gross winnings/gross loss number?
This is not that tough so long as you know how much you had at 01/01/06. It as simple as taking what you have at the end of 2006 (bankroll: what's in neteller and whatever you have on any sites), subtract out bonuses and rake back that you received and then subtract your balance from the begining of the year. Take this total and add back all monies that you transfered out to a personal account or to purchase something and subtract all monies transfered in. All fees that you paid to transfer funds out need to be added back as well. Fees to transfer in should be subtracted.
This should get you somewhere close to your gross earnings from just playing. If you want more specifics PM me. Wow. My accounting degree is actually worth something. Certainly not helping my poker. [img]/images/graemlins/smile.gif[/img] Edit: Remember to add back rakeback & bonuses when you calculate you total income from gambling if this is for your taxes.
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#9
12-12-2006, 04:11 PM
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Re: How to get gross winnings/gross loss number?
[ QUOTE ]
This is not that tough so long as you know how much you had at 01/01/06. It as simple as taking what you have at the end of 2006 (bankroll: what's in neteller and whatever you have on any sites), subtract out bonuses and rake back that you received and then subtract your balance from the begining of the year. Take this total and add back all monies that you transfered out to a personal account or to purchase something and subtract all monies transfered in. All fees that you paid to transfer funds out need to be added back as well. Fees to transfer in should be subtracted. This should get you somewhere close to your gross earnings from just playing. If you want more specifics PM me. Wow. My accounting degree is actually worth something. Certainly not helping my poker. [img]/images/graemlins/smile.gif[/img] [/ QUOTE ] Err... your method gives him his NET earnings, which he already knows. He needs to figure out GROSS earnings (and losses), presumably because he is filing in the US as a non-professional. Scary_Tiger, if you don't have PokerTracker, you're going to have to estimate this. Start keeping track of your winning and losing sesssions now. After you have some data built up, figure out your gross from winning sessions, gross from losing sessions, and your overall net. That should give you an overall ration of gross to net earnings, which you can then apply to your overall net from 2006. HTH, + good luck.
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