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Please, No Mention of Prize Amounts On This Site

Posted By: Bill Riles
Date: Tuesday, 2 November 2010, at 1:50 p.m.

In Response To: Please, No Mention of Prize Amounts On This Site (David Startin)

yes, Americans, by law, are supposed to pay income taxes on all income earned -- even if earned in a foreign country, even if earned playing backgammon

unless one is a 'professional' the winnings cannot be offset by expenses; the typical player as we know him/her is not technically a 'professional'; I know a couple of people who sell lessons primarily so they can satisfy the definition of being a 'professional' (I'm sure they have other reasons also, but this one of them.)

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