Nizzar

[heartbrand]

The real question is if the sell of pixels should be classified as the sale of a capital asset and reported on your Schedule D, in which case the cost basis can be taken into account, or, is it considered business income reportable on your Schedule C, in which case you'll need to make estimated tax payments and pay self employment tax. I'll request a private letter ruling from the IRS on this matter.

[daasgoot]

Deals have been made..

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[HippoNipple]

Originally Posted by heartbrand [You must be logged in to view images. Log in or Register.]

The real question is if the sell of pixels should be classified as the sale of a capital asset and reported on your Schedule D, in which case the cost basis can be taken into account, or, is it considered business income reportable on your Schedule C, in which case you'll need to make estimated tax payments and pay self employment tax. I'll request a private letter ruling from the IRS on this matter.

Looks like AIM Chat may be getting tax write offs with the realized loss of the depreciating pixels as the server approaches Velious release. They owe it all to Drakaris and his tax knowledge.

[heartbrand]

If you're considering reporting your RMT income, I would recommend studying up on the following IRS Notice regarding virtual currency

http://www.irs.gov/pub/irs-drop/n-14-21.pdf

[heartbrand]

Originally Posted by Slater [You must be logged in to view images. Log in or Register.]

Considering the time invested in pixels, I'd write it off as a loss.

you can't write off the value of your time, i.e., you can't write off as a charitable contribution the value of the time you contribute or the value of a service you provide

[Drakaris]

Originally Posted by HippoNipple [You must be logged in to view images. Log in or Register.]

Looks like AIM Chat may be getting tax write offs with the realized loss of the depreciating pixels as the server approaches Velious release. They owe it all to Drakaris and his tax knowledge.

This is a free to play server and the IP is not owned by anyone but Daybreak. This would fall under the self employed section, otherwise you would be held liable for copyright infringement by profiteering on IP you do not own or have the right to use, which is another legal mess in itself.

[daasgoot]

if i pay taxes on RMT then im writing off all my internet bills, power bills, computer depreciation, red bulls consumed, etc etc

[Nocsucow]

There's no reason for anyone to get the cast treatment unless you do cast like shit....

[heartbrand]

Originally Posted by Drakaris [You must be logged in to view images. Log in or Register.]

This is a free to play server and the IP is not owned by anyone but Daybreak. This would fall under the self employed section, otherwise you would be held liable for copyright infringement by profiteering on IP you do not own or have the right to use, which is another legal mess in itself.

wut

[Drakaris]

Originally Posted by heartbrand [You must be logged in to view images. Log in or Register.]

wut

Try to write this off as selling assets. I dare anyone stupid enough to [You must be logged in to view images. Log in or Register.]