Tax Ticket Question

[Port Conway Lane]

Originally Posted by arizonadave

This also brings up the point of playing 50 cent P4s,when able. In this example, the 50 cent P4 would pay $500 per ticket and there wouldn't be any tax paperwork. Instead of two $1 P4 tickets, it would be 4 50 cent tickets.

That is one advantage of playing at the track vs. an ADW which would report the four 50 cent tickets to the irs.

Can anyone answer this one:
If I broke even during the course of the year wagering through the ADW sites I use, would there be a tax liability on the money that one of those sites gives me ?
(This ADW deposits $100 per month in my account when I deposit and wager $100 by the 15th of each month. By the end of the year if I broke even on my wagers I would have $1,200 in my account.)