How about some input on how countries other than the U.S. treat gambling income? My experience with the IRS is "damned if you do, damned if you don't". If you properly declare everything it seems to be a certainty to get audited, which at best is a time-consuming pain in the ass. If you don't follow the rules, it's even worse-penalties, interest, or even criminal charges. Do other countries have a less puritannical/punitive view of this kind of income?
Gambling winnings are tax exempt here.
"BIM22017 - Trade: exceptions & alternatives: betting and gambling:
the professional gambler: The fact that a taxpayer has a system by
which they place their bets, or that they are sufficiently successful
to earn a living by gambling does not make their activities a trade."
"BIM22017 - Trade: exceptions & alternatives: betting and gambling:
the professional gambler: The fact that a taxpayer has a system by
which they place their bets, or that they are sufficiently successful
to earn a living by gambling does not make their activities a trade."
