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Posted
16 hours ago, TonyTexas said:

Per my understanding, it’s actually worse than that. You can only claim losses up to 90% of your winnings. If you have  100k in tournament winnings but have 200k in entry costs, you can only claim 90K in losses for tax purposes. So taxes have to be paid on 10k even though you are a net loser. 

Wow it's like they're trying to stamp out poker tournaments by the tax code or something. 

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