what are the tax implication of Card Winnings?

[contemporary]

I've been on a luckly streak lately and am making some nice money from cards, what is the tax implication of this. AFAIK it is all tax free. Any ideas/ opinions?

 

[woods]

I think that as long as it is not your main source of income you are tax free.

 

[millhouse]

Revenue do not consider Gains from gambling as Taxable, the reason being if you were taxed on your Gains you would be able to claim relief on your Losses. They aint stupid.

 

[jhegarty]

I've been on a luckly streak lately and am making some nice money from cards, what is the tax implication of this. AFAIK it is all tax free. Any ideas/ opinions?

yep tax free...

 

[Bluematt]

Tax Free,But if revenue sees large deposits into bank accounts and your only explanation is gambling winnings they may require some proof of this.