Paying taxes on winnings in the US
Hello,
I was a student in the UK (although American) so this enabled me to get a bank acct./address here and sign up at most of the European books. I know they don't allow Americans but anyways....
So - 1) I am withdrawing this money into my UK acct. right now. When I eventually go back to America and transfer that money to my Amer. acct. how should I claim that money or should I transfer funds at all?
2) This question is probably more important as I plan on eventually trying to do most betting on US approved sites. I know sports gambling is 'illegal' in most states. What would be the best way to transfer funds from these sports books and when I pay taxes how should I claim it?
I'd rather pay my taxes especially since I'm already making money, but not if I have to admit to a crime in order to do so. Also, was wondering what people think of Neteller and their prepaid card? I was reading about that last night and it seemed like a decent option. I figure withdrawals from an ATM would be limited to $300 a day or so...
I was a student in the UK (although American) so this enabled me to get a bank acct./address here and sign up at most of the European books. I know they don't allow Americans but anyways....
So - 1) I am withdrawing this money into my UK acct. right now. When I eventually go back to America and transfer that money to my Amer. acct. how should I claim that money or should I transfer funds at all?
2) This question is probably more important as I plan on eventually trying to do most betting on US approved sites. I know sports gambling is 'illegal' in most states. What would be the best way to transfer funds from these sports books and when I pay taxes how should I claim it?
I'd rather pay my taxes especially since I'm already making money, but not if I have to admit to a crime in order to do so. Also, was wondering what people think of Neteller and their prepaid card? I was reading about that last night and it seemed like a decent option. I figure withdrawals from an ATM would be limited to $300 a day or so...
