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1.
1.Out of money; penniless.

A 'tap' is what you use to make liquid flow from its source. 'Tapped out' means that there is nothing left to flow.


2.Tired, exhausted.

When 'tapped out' is used to describe a person, it means that the person has no more energy to spend of flow.
1) I'm tapped out, so I can't go to the movies tonight.

2) After working all day, I was tapped out.
by VAKI5 May 11, 2005
 
2.
exhausted, Can't go any farther, just done physically and emotionally drained...
i pulled 3 all nighters to finish this studio project, I'm tapped out!!
by peachcobbler August 08, 2009
 
3.
1. A term used to refer to having no more mana in the Magic: The Gathering game.

2. A great website to make MTG decks.
"Hey man, you can't do anything. You're tapped out!"
by SageRook October 27, 2009
 
4.
In a bad situation that you cannot do anything about. Usually comes after you over-commit on something.
Guy1: I ran for 15 miles, but I realized I tapped out and I had to walk back in the dark.

Guy2: Wow you are dumb.
by Andy0958 April 07, 2008
 
5.
Being incapable or unwilling to partaking partake in sexual behaviour (esp. after ejaculation).
Not now; I just jerked it an hour ago and I'm feeling tapped out.
by seandrick May 26, 2009
 
6.
In reference to relations with the opposite sex, tossing the towel emotionally.
Hey dude, hows it goin with suzie these days?

Bro, i'm tapped out. you should too, just tap out, man. trust me, tap out.
by skram3030 September 26, 2006
 
7.
To commit suicide, to kill oneself.
I heard Suzy tapped out last night, it's so sad.
by FlashPoint November 21, 2005