I know this topic may have been posted before, but I am new here and don't know how to navigate the site too well yet.
I had a question about all this great HYIP stuff. I'm sure many people choose to hide funds in offshore bank accounts etc. I'm planning on doing similar things such as debit cards etc. My question was....IF one were to chose to be legitamite about all the money he\she would be getting from HYIPs, how do you claim money for taxes. Is it considered online gambling winnings or what? There is obviously no documentation such as 1099's and such so how is one to go about legitamitely claiming money for taxes..
I don't plan on doing so in the begining because ther eis no telling how much or how little i will make, but for future reference can anyone of you "pros" help me out? Thanks!