Thank you for this response, very much appreciated. It makes relevant a follow-up question, which I probably should have appended to the original one.
Will the IRS consider my "winnings" to be the total amount won, without taking into account losses, or the actual profit? Say I "won" 15,000 but lost 10,000, leaving an actual income of 5,000. Which number, the 15K (winnings) or the 5K (winnings minus losses, or my actual return) will the IRS use to decide whether I've exceeded the threshold?
