You can’t actually get real world money from gold, so no, it’s not taxable.
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Makes it easier to fudge the numbers that way actually, Canada not so much we have the CRA and that’s aboot it.
Then why do I keep getting in game messages saying I can?
You can exchange gold for Blizzard products, but not real cash.
It’s comes into play if you go to rmt.
Did you sell the gold, item etc for lots of real money?
If like 50…That’s like winning a super bowl bet. Don’t report that crap. Or do…whatever works.
Now if a gold seller and you made 20k in one year the irs might like to know where the 20k came from.
I doubt anything will come of it this tax season since no one is really prepared for it, but apparently anyone who purchased digital currency like V-Bucks and Robux last year will have an extra form to fill out on their taxes this year because the IRS has their eyes on it now. I have no idea how WoW Tokens would factor into that, they aren’t really currency like the other two examples but they CAN be converted into Blizzard Balance.
-garage sale-
lol, every game that uses RMT hopes not, because then you need to start talking ownership. ActiBliz/Any game company will never allow that. Multinationals exist to screw you over. So no, you cant.
No
It isnt because gold has no way of leaving the game as a real world currency. In-game gold can be used to pay for things in game, including tokens, but at that point, the tokens cannot be refunded or turned into anything outside of the game other than a subscription which is still particular to the game itself.
Although, it would be interesting to see their tax raised because of selling ingame currency for real currency. The way they get around this, is the fact that you buy a token, an in-game item, then sell the token for in-game currency. So, technically they are barely skirting it.
The value leaves the world all the time. You dont need it to leave the world. You could easily measure real world value with the currency, that’s all that is really needed for an argument(that and billions of dollars for litigation).
IRS treats bartering the same as if cash is being exchanged because both sides can actually sell the goods/services for real cash instead of bartering. In-game gold can never be exchanged for real cash.
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True, but they will do everything they can to mask it. Blizzard is losing enough money due to their poor design wuality and waning sub levels as it is. They dont want to pay more in taxes for selling their ingame currency.
Would probably be a very similar debate to cryptocoins. Which is why I said its a messy issue. Not only for tax purposes but also ownership.
Blizzard sent out 1099s to players who made over a certain $ amount in the D3 RMAH. But for WoW gold? No.
Edit: was supposed to.
Personally, I could care less how much they actually make off it. But, I would like to see some retribution for the many lies they have told their customers.
No no people message me ingame and tell me they will sell me gold for real cash and tell me to go to a website.
After reading into this a bit more it looks like the IRS is taking a more aggressive stance on Cryptocurrency, however their initial wording for this tax season was a little too broad and incorrectly listed V-Bucks (Fortnite currency) and Robux (Roblox currency) as examples of currency that needed to be reported. Those examples have since been removed and it SOUNDS like they are really only looking for things like Bitcoin, but it might be wise for anyone concerned about it to consult a tax expert to be safe.
Third party gold sellers have to pay income tax if they make over the standard deduction. As independent contractors they have to pay Social Security taxes. lol
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Which is kinda the point, right? Heh, third party sellers actually prove it does have real world value. Any multi-billionaire that wants to troll multinationals?