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TOURNAMENT POKER IS STILL A GAMBLE
February 21, 2007
The Tax Court ruled yesterday that poker tournaments are gambling under the tax law, rather than sporting events like a football game (after all, nobody gambles on football, right?).
Tax bloggers are flooding the zone on this one. Russ Fox is the go-to guy on gambling tax issues, and he has coverage here. The Tax Prof and Kreig Mitchell are also on the case.
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