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Message: [QUOTE="upperdeck, post: 4135450, member: 474"] thats why i get confused.. you deposit 1000 win 300 then next year win 300 then withdraw 1000. how do they tax you on 1000 ? horses is funky.. you can put in 1000 and win 1 race for 700 and lose all of it and you still get taxed on that one win even in a yr you lose money. And you cant really offset it now with deductions being so hard to match unless you have a mortgage or something like that. pretty sure this is the same win $600 on a bet thats more than 300x the orginal bet.. so a $20 parlay that wins $750 would not be taxed by the IRS but should be claimed as income but not taxable? the main thing is no one does this normally and at the track no one really knows.. but this is all being tracked now.. I suppose at some point the IRS could ask all these sites for the data. [/QUOTE]