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How do I deduct gambling losses on my tax return?

Jason posted: I understand that I am required to report gambling winnings and that I am allowed to deduct gambling losses. But I do I determine gambling losses? Specifically, if over the course of a year I fund an online poker account with $3,000, cash out winnings for $5,000, and have $1,000 remaining in my [...]

How do taxes work for winnings from online poker/gambling sites based outside the US?

beatzscientifik posted: If you win $50,000+ from an online poker/gambling site based outside the US, is there any way to cash out the money without having to pay taxes? If not, can someone explain how taxes would work? Casino Cash Surprise

Denmark Seizes Online Poker Winnings of Professional

A man whose sole source of support is playing online poker saw his winnings confiscated in a decision by the Supreme Court of Denmark, saying laws against professional gambling apply both to land and Internet. Go to Source

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