Another tax question (for mainly MTT players)

[ericicecream]

I think the technically correct thing would be to get the list of tournaments played and use each cash (less the buy-in) as a profit and each out of the money finish as a loss. Claim your profit as income on line 21(other income) and deduct your losses on schedule A.

If you at least make a valid attempt to pay the correct tax you will probably not have much problem with the IRS.