will they tax us on rackeback

[rockycatt]

so how do you think the u s a will treat rake back when its legal will they tax us on rakeback

 

[Cleveland]

I'm not sure what that is . Can you explain so I don't have to google....yea I'm being lazy

 

[rockycatt]

I'm not sure what that is . Can you explain so I don't have to google....yea I'm being lazy

never join up at a poker room with out first going through a rake back affiliate they code you when you sign up and pay you back usually 35% of your rake back on a monthly basis on line poker roars through a gazillion hands i know peeps that play break even poker and get there profit from there rake back ,and its treated as cash no no w/r just cash it out if u want


PS we should get it from slot play, and its for life


cleave ref -------->

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[pokeraddict]

The Nevada regulations only posts net withdrawals although the same type of tournament rules apply for W2Gs, which is a net win of $5000 or more. That does not mean that is what the IRS thinks, but one would assume the IRS had some input there because there is no state income tax in Nevada. The IRS would also be able to see how much money you had in your account if there was a court order.

I have not heard of any Nevada online poker room even discuss rakeback. I would not count on it existing but nothing is live yet so who knows. Currently, rakeback is only taxed as part of net win. In other words, if you lost $10 but your rakeback was $10 then you had a $0 session.

Disclaimer: Not an accountant, seek professional advice at tax time.