# Tax Information We need to preface this discussion of taxes by saying that we are not tax advisors, we are only providing this for informational purposes. This is our general understanding and may not apply to your situation and we may be wrong – every person should do their own research and use a competent tax advisor – we are not responsible for your reliance on the below. In tax year 2026 (for transactions occurring from 1/1/26 to 12/31/26) it is our understanding that tournament entries can be deducted from the total withdrawals made to obtain the net income that a player would pay taxes on, regardless of whether this is “hobby income” or “business income”, click [here](https://www.irs.gov/newsroom/know-the-difference-between-a-hobby-and-a-business) for more information on this issue. So, if for example you made $700 but spent $600 your net income would be $100 (though your taxable income may be less). Players operating as a business may have additional deductions such as for phones, internet service, purchased inventory (in the collectibles space), etc. – a good overview of deductions for eSports players and streamers can be found [here](https://darkhorse.cpa/blog-tax-deductions-for-esports-players-and-streamers/). For information about tax year 2025, click [here](https://docs.triumpharcade.com/tax-information/2025-tax-information). --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.triumpharcade.com/tax-information.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.