HardOCP News
[H] News
- Joined
- Dec 31, 1969
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Hiding your Bitcoins? You better watch out, the IRS could be coming for you!
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.