taxes and wagering on sports

gmen75

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Aug 10, 2004
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Just wanted to know if any one knows when to pay taxes on profits from gambling. SHould I do it at the end of the year or when I take it out of my sportsbook which might not be for a couple of years? what does every body do?
 

IE

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Mar 15, 1999
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do a seach on the forums for the word "winnings" , "profits" and "taxes" been hashed out many a times over the years.....
 
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