Advice - RMT and IRS

[Alienhated]

So how do you guys declare your money made from real money transactions, if you do it at all?

Advices?

 

[Artemys]

If you use paypal this is a good read:
https://cms.paypal.com/us/cgi-bin/marketingweb?cmd=_render-content&content_ID=marketing_us/IRS6050W

 

[MaskedArmory]

You report it as a Sole Proprietorship. Self-employment tax sucks...

They took a very large chunk out of my earnings this year as my volume sold almost tripled last year. DAMN YOU IRS!

 

[Alienhated]

If you use paypal this is a good read:
https://cms.paypal.com/us/cgi-bin/marketingweb?cmd=_render-content&content_ID=marketing_us/IRS6050W

Can't really open it :s

- - - Updated - - -

If you use paypal this is a good read:
https://cms.paypal.com/us/cgi-bin/marketingweb?cmd=_render-content&content_ID=marketing_us/IRS6050W

Can't really open it :s

 

[aeiz]

i either do physical trading in person or through paypal or other means like forum currency.

 

[AccountsP]

Yes, always report it. Be safe.

 

[roger911]

depends how closely linked your cashout methods are linked to you, but better safe than sorry is always a good motto to live by.

 

[Blackplague]

Is this something to worry about if your selling less than 500 dollars a year. At one point should you start reporting it.

 

[Zoefken]

In every country there is a benchmark for the max money you can earn without paying taxes on it. In belgium the bechmark is 1.393,96. So if you stay under that ammount in belgium you can easyly declare it and keep the money in the pocket.

If you are gonna make 1.000 upon 1.000 declare it!