There is a form that you can fill out to divide the income among the partners form #5754. Using that should keep everything equal. Or you could divide it up whichever way worked the best for the group.
A.P.
________________________________
From: "davidcp789@yahoo.com [vpFREE]" <vpFREE@yahoogroups.com>
To: vpFREE@yahoogroups.com
Sent: Tuesday, December 9, 2014 4:43 PM
Subject: [vpFREE] Taxes on a team
If people shard a bankroll for a progressive, how do they deal with taxes? For example one guy who hits the progressive may be in a higher tax bracket than the others and his cut may be largely eaten up by taxes. On the flip side you may have someone who already has big losses for the year who hits the progressive and doesn't have to pay any taxes. How do you deal with this?
[Non-text portions of this message have been removed]
Posted by: Albert Pearson <ehpee@rogers.com>
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