Put the money in the cage and then take out $1000 markers against it.
“Put the money in the cage and then take out $1000 markers against it.”
If you’re under a $10,000 profit. If you show up with say, $12,000 on a $2000 buy in, they will throw IRS forms at you. You are not required to pay the taxes immediately if you choose not to, but the tax forms notifying the feds have to be filled out.