TDS Refunds, Tax & Planning for poker players with CA Jayesh
TDS Refunds, Tax & Planning for poker players with CA Jayesh
A professional gambler's net profits throughout the year are taxed since their gambling activities are designed and expected to earn a profit In these cases,
Gambling winnings are fully taxable and you must report the income on your tax return Gambling income includes but isn't limited to winnings from lotteries However, if you're living the life of a professional poker player, you'll pay income tax on your winnings instead of the standard gambling tax
pillow with arm slot Depending on the amount of your winnings, you may receive the Form W-2G which reports the amount of your winnings and the amount of tax that was withheld, if Even if taxpayers win or lose modest amounts while sports gambling, they are required to pay taxes on their winnings, not unlike it was earned
