| Author | Message | ||
     Mental_sachinodu Hero Username: Mental_sachinodu Post Number: 10878 Registered: 10-2008 Posted From: 208.85.130.5 Rating: N/A |
ok, its probably good news for bitcoiners....  first towards letimizing this sort of currency online gamers beware of tax rules!! http://www.nationaljournal.com/tech/the-tax-man-cometh-for-y our-bitcoins-20130618 If you're playing a massively multiplayer online game like World of Warcraft (yes, the report actually cites WoW by name) but don't convert your in-game gold to real-life dollars, you haven't made any money and you don't owe any income taxes on your gameplay. If you trade virtual goods and services for virtual currency, you "may" have earned income, and you have to report it. If you trade real-world goods and services for virtual currency, that might also result in taxable income. If you earned virtual income (say, by renting out property on SecondLife) and convert those earnings into dollars, you've earned taxable income. If you successfully mine a batch of bitcoins, that's taxable income. the world of appearances may or may not be real, or both may and may not be real - or may be indescribable; or may be real and indescribable, or unreal and indescribable; or in the end may be read and unreal and indescribable - its all Syadvada |
