I hear you, for sure. It seems like doing it as a business is a lot better, but way more complicated.
Let me get this straight. If one is not a professional and they deposit 30k and cashout 30k.... They have to pay 30k in taxes?? What if you have the deposit/withdrawal form from a book stating you didn't make any money???
Can't one show write off their withdrawals from their deposit without having to file as a professional because it might not be their primary income if they don't make anything.
Let me get this straight. If one is not a professional and they deposit 30k and cashout 30k.... They have to pay 30k in taxes?? What if you have the deposit/withdrawal form from a book stating you didn't make any money???
Can't one show write off their withdrawals from their deposit without having to file as a professional because it might not be their primary income if they don't make anything.