Hello
What does the IRS define as a WIN?
If I bet on a sports bet that is -110 I would have to put up $110 to "win" $100, but I get back a total of $210. Does the IRS count the $210 as income/win or does it just count the $100 profit from the bet?
What does the IRS define as a WIN or income?
Thank You for your time.
