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Originally Posted by Sweepsplayer
Update: IRS taxation of online game virtual assets inevitable
If you are a hard-core player of virtual worlds like World of Warcraft, Second Life, EverQuest or There, IRS form 1099 may someday soon take on a new meaning for you.
That's because game publishers may well in the not-too-distant future have to send the forms ... even when those players don't convert the assets into cash. |
Some friends got me to start playing World of Warcraft a few months ago. Now I'm addicted. I don't understand how you could be taxed for virtual game items and money unless you made actual real money by selling it to someone else (this is against the rules for WoW though, and if the company catches you doing this they will ban your account).
Is this article trying to say that I might have to pay taxes on the silver and gold I get from killing monsters, etc? That makes no sense.