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<blockquote data-quote="sweeney" data-source="post: 153408" data-attributes="member: 453">thanks boys for the links and info, I am going to do some more record keeping this year just in case we get lucky and have a few checks to cash like in the past, if I find anything else out or anyone has some first hand experience hopefully we can get it posted here. with the AIM trail and the usual 3-5 bigger money tournies in ND, I can see a few people making some good cash and then having to pay a good portion of it to the IRS.- - - Updated - - -Yea maybe, just sucks having a portion of your return nixed from your w-2 job for tourney winnings when you barely broke even on any of the tournaments or actually lost money though. I'm guessing like someone said if it is a hobby with intent to profit you can deduct, much like when the casino gives you a tax form and you have to show proof of losses up to your winnings.</blockquote>

[QUOTE="sweeney, post: 153408, member: 453"] thanks boys for the links and info, I am going to do some more record keeping this year just in case we get lucky and have a few checks to cash like in the past, if I find anything else out or anyone has some first hand experience hopefully we can get it posted here. with the AIM trail and the usual 3-5 bigger money tournies in ND, I can see a few people making some good cash and then having to pay a good portion of it to the IRS. [COLOR="silver"][SIZE=1]- - - Updated - - -[/SIZE][/COLOR] Yea maybe, just sucks having a portion of your return nixed from your w-2 job for tourney winnings when you barely broke even on any of the tournaments or actually lost money though. I'm guessing like someone said if it is a hobby with intent to profit you can deduct, much like when the casino gives you a tax form and you have to show proof of losses up to your winnings. [/QUOTE]

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