Pretty sure my Roblox scores tallied in this fiscal year now have to be declared as capital gains.
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WTF did I just read in that tweet?
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Be careful with Lindens since in the fine print Linden Labs doesn’t have to honor the exchange of Lindens for money. It’s why they’ve lost access to many banks and credit cards as is (on top of not properly dealing with people who’ve stolen from said credit cards and banks with scripts on objects).
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Don’t forget that bartering transactions must be reported. If you mowed your neighbor’s lawn in exchange for a home-cooked meal, you’re supposed to estimate the fair market value of the meal and the mowing service. (I think the difference gets reported on Form 1040-C.)
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IRS better let us write off the loss value of those in game currency as investment loss or gambling loss as much as convenation rate with real currency if they decide to enfore such rules. Otherwise, let us know until 2047 or when Trump lose in Nov.
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