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Get your taxes done using TurboTax
When you're breaking this 1099-K down for categories as @AmyC details above you can enter all of the income that you received (which is really just you pulling the same money out over and over) as "received from a related party (you are related to you, after all). Then it won't be included in your taxable income.
But whatever you do download your transaction history from the casino website so that you can prove that the money was transferred to and from there. It is always possible that the IRS will demand proof that the Paypal transactions were not income and you need to have that information ready if they do.
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‎January 25, 2023
12:04 PM