Calculating wins / losses for tax purposes

[KaiserSose]

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How did you all determine this? I thought a day would be an appropriate measure, but when looking through PT, I couldn't find out how to filter it in this way. Any help would be appreciated. thanks.


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Export your sessions to a .CSV file, and open it in Excel. Then group them by whatever you want to call your session. (Someone in the software forum may have come up with a program to do this.)

BTW, if you happen to get audited (low priority risk), if in a day you play in the afternoon, take a few hours break, and then play again in the evening, you may have a hard time convincing the IRS that is the same session.

-Tom

I posted a question earlier asking how people calculated taxes using PT. This answer was given, but I have absolutely no idea how to do what he suggested. I don't even know what a .CSV file is. Can anyone help? thanks.

[_dave_]

read thorough this thread

At the end I give the SQL to export a PT databse to CSV file by date (session).

A CSV file is a "comma seperated values" - you can open it with MS Excel, or a multitude other spreadsheet applications.

[ QUOTE ]

BTW, if you happen to get audited (low priority risk), if in a day you play in the afternoon, take a few hours break, and then play again in the evening, you may have a hard time convincing the IRS that is the same session.


[/ QUOTE ]

If you are playing B&M and pop to the bathroom, when you return are you playing a different session? If you pop out for a smoke? If you pop out for a meal?

I'd hazard a guess that a sensible estimate that would stand up in court would be the amount of time away before you can return with less chips than you had before you left an NL table. The site considers your return to the table to be within the same session as when you left. I don't know what this time is, it probably varies by site. At least an hour on Stars, probably more.

Oh, and lol tax-on-gambling (unless you lose) aments - how on earth does a govornment that can get away with such things get in (and stay) ??? has anyone ever had them try and explain their stance? One mans win is another's loss, and taxes has already been paid on that income, no?

[KaiserSose]

Dave: I completely agree that taxing gambling winnings is completely ludicruous, especially the way in which it is taxed.

I tried to follow the instructions that you gave in the other thread. I had to download PostGres. After I download it am I supposed to link it to my PT Database somehow? When I click tools, the run query option isn't available. I'm completely lost here, as I mentioned earlier I'm computer illiterate. thanks for the help.

[jukofyork]

[ QUOTE ]
Oh, and lol tax-on-gambling (unless you lose) aments - how on earth does a govornment that can get away with such things get in (and stay) ??? has anyone ever had them try and explain their stance? One mans win is another's loss, and taxes has already been paid on that income, no?

[/ QUOTE ]
That's about the only tax break we get in the UK though - perhaps the government fear that if they tried to tax us any more then there would be a revolution!!! [img]/images/graemlins/grin.gif[/img]

Juk [img]/images/graemlins/smile.gif[/img]

[KaiserSose]

Bump I really need help

[johnnycakes]

I use an Excel macro that I stole from MNPoker.

Here are the instructions:

Open PT for the dates you want covered.
Go to the Session Notes tab.
Click the "p" (print) button right above the Session Detail section (second section).
Click the Export button
Browse to where you want to save the file. Then click "Export". PT will confirm that the file was exported.

Now, go open that Excel file.
Now, per MNPoker's instructions..."In Column Q (Row2) enter the following Formula (On the sheet PT data is in):
=DATE(YEAR(A2),MONTH(A2),DAY(A2))+HOUR(A2)/24+MINUTE(A2)/(24*60)
Drag the formula into Column R as well and down the sheet.
So in column R row 10 the formula will look like this:
=DATE(YEAR(B10),MONTH(B10),DAY(B10))+HOUR(B10)/24+MINUTE(B10)/(24*60)"

The data on this page must be sorted from oldest session to newest session. So, click on column A and sort A to Z. Yes, expand the selection when Excel asks.

Now create a macro with the code from MNPoker's post.
This macro counts all sessions played within two hours of each other as the same. So if you play some poker, quit for an hour, then come back, this counts that as one session. If you want to reduce that amount of time, just change the bold number in the macro code to the desired number (in hrs).
Sub Macro1()
'

'
Dim SessionStart(10000)
Dim SessionEnd(10000)
Dim SessionWinLoss(10000)

SessionStart(1) = Range("Q2")
SessionEnd(1) = Range("R2")
SessionWinLoss(1) = Range("H2")
Session = 1

X = 2
a = Range("Q1").Offset(X, 0)
Do While a <> ""
If Range("Q1").Offset(X) <= SessionEnd(Session) + 2 / 24 Then
SessionWinLoss(Session) = SessionWinLoss(Session) + Range("H1").Offset(X, 0)
SessionEnd(Session) = Application.WorksheetFunction.Max(Range("R1").Offs et(X, 0), SessionEnd(Session))
Else
Session = Session + 1
SessionStart(Session) = Range("q1").Offset(X, 0)
SessionEnd(Session) = Range("r1").Offset(X, 0)
SessionWinLoss(Session) = Range("H1").Offset(X, 0)
End If
X = X + 1
a = Range("Q1").Offset(X, 0)
Loop

Sheets.Add.Name = "Output"
Worksheets("Output").Select

Range("b1") = "Total Sessions Played"
Range("b2") = "Win Total"
Range("b3") = "Loss Total"
Range("b4") = "Net Win / (Loss)"
Range("a6") = "Session #"
Range("b6") = "Start Time"
Range("c6") = "End Time"
Range("d6") = "Amount Won"
Range("e6") = "Amount Lost"

For a = 1 To Session
Range("a6").Offset(a) = a
Range("b6").Offset(a) = SessionStart(a)
Range("b6").Offset(a).NumberFormat = "(ddd) m/d/yy h:mm a/p""m"""
Range("c6").Offset(a) = SessionEnd(a)
Range("c6").Offset(a).NumberFormat = "(ddd) m/d/yy h:mm a/p""m"""
If SessionWinLoss(a) >= 0 Then
Wins = Wins + SessionWinLoss(a)
Range("d6").Offset(a) = SessionWinLoss(a)
Range("d6").Offset(a).NumberFormat = "$#,##0.00"
Else
Losses = Losses + SessionWinLoss(a)
Range("e6").Offset(a) = -SessionWinLoss(a)
Range("e6").Offset(a).NumberFormat = "$#,##0.00"
End If
Next a

Range("a1") = Session
Range("a2") = Wins
Range("a3") = -Losses
Range("a4") = Wins + Losses
Range("a2").NumberFormat = "$#,##0.00"
Range("a3").NumberFormat = "$#,##0.00"
Range("a4").NumberFormat = "$#,##0.00"
Columns("a:a").ColumnWidth = 15
Columns("b:b").ColumnWidth = 21
Columns("C:C").ColumnWidth = 21
Columns("d:d").ColumnWidth = 15
Columns("e:e").ColumnWidth = 15
'
End Sub

Now...run the macro!

Let me know if you need anything else explained.