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Tax time! [US players]

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Rakurai

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Getting started on my taxes, and wondering if anyone has some tips on RMAH income. I can't seem to find any official word on whether Blizzard will be sending out 1099s for payments totaling $600 or more. Some say it is Paypal's responsibility?

All I can find by Googling is a lot of "that's silly, no one will be making over $600 and have to file taxes" :P

Kind of depressing side note, is totalling up how much money I've spent between Demonbuddy keys, Diablo keys, ISBoxer, and other related expenses. Totally going to deduct the computer I built to bot with :)
 
600 usd is nothing! But any kind of income you should tell the IRS. At least in Denmark. But they wont use time or money on you of such a small amount.
 
Google paypal and the IRS.
You will find an answer quick.
 
get a lawyer, sue blizzard, they will 1099 for the 100% price of the item even after only giving you 70% of payment

it will only take 1 person suing blizzard for their scumbag service untill they re-do the tos again or lose the rmah due to loopholing laws.
 
pikapika said:
get a lawyer, sue blizzard, they will 1099 for the 100% price of the item even after only giving you 70% of payment

it will only take 1 person suing blizzard for their scumbag service untill they re-do the tos again or lose the rmah due to loopholing laws.
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You're an idiot.

Paypal sends the 1099's.
 
Paypal will send out tax forms on income over 10,000.00 I believe. I created an LLC in 2009 for all of my side ventures and paypal has gotten more strict about this.
 
warbux said:
Paypal will send out tax forms on income over 10,000.00 I believe. I created an LLC in 2009 for all of my side ventures and paypal has gotten more strict about this.
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So should I still include the money i made in my taxes even if it smaller than 10k?
 
If you used paypal to buy gold / items useing the rmah , then yes paypal has its own tax selection and even gives you a tax #id

If you used a bank card/credit card on blizzards website directly without anything like paypal, you might want to call their billing department and just ask what can be done about tax's
(depending on the person that answers a phone call) you might get an answer of them saying this is how its done/ or call your bank, or the rude bizzness type of person would say, sorry we don't do tax's.....

so i would call a few times...
 
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can we report diablo 3 purchases, botting computer, electricity as business expense? i might be able to able to claim a loss (even though i made a good amount of money) and actually RECEIVE some extra $$$ from Obama
 
Im going to try and deduct for all keys + comps atleast and i think my cpa can even deduct some mortgage and electricity since its a home based business.
 
If you have a dedicated office space you can deduct a portion of rent/utilities as a home office. That means really dedicated, not a shared area. I plan to deduct cost of keys and the gaming rig I built for botting, but you have to be careful because you now have assets that depreciate over time.
 
conetopia said:
If you used paypal to buy gold / items useing the rmah , then yes paypal has its own tax selection and even gives you a tax #id

If you used a bank card/credit card on blizzards website directly without anything like paypal, you might want to call their billing department and just ask what can be done about tax's
(depending on the person that answers a phone call) you might get an answer of them saying this is how its done/ or call your bank, or the rude bizzness type of person would say, sorry we don't do tax's.....

so i would call a few times...
Click to expand...

I've never heard of receiving blizzard funds through a debit card.

If you mean purchases, then you already have the record in your bank statement of expenses, you don't need to contact Blizzard.
 
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