Yeah I understand the wins and losses. The problem is with the PayPal 1099-k. Let’s say I deposited $20,000 and only played 1000 and decided to cash out 20,000 and broke even. The IRS is trying to tax the 20000 as income when it’s not. It’s complete nonsense and they need to fix itZ I know it’s on the taxpayer to show all this on return but to levy these notices and try to scare people and force them to pay these astronomical penalties and fees is ridiculous.
