The official NETELLER thread. (249 days on.) #3 of 3.

[WhiteWolf]

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I've never had any business with the IRS (thank god), but as far as I'm concerned money online is money 'in play'. It'd be crazy to pay tax on 100K without any guarantee you'll ever see a dime.

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You're describing the way you want it to be, not the way it actually is. The fact is that the IRS disagrees with you - gambling income is earned the minute you complete a winning session, and gambling deductions can be booked the minute you complete a losing session. The IRS does not consider that money 'in play' the way you do, and I have a feeling that if you and them end up having a serious discussion on the matter, you'll come out on the losing end.