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What is and isn't reported for W-9 purposes


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#1 mef730

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Posted 25 March 2019 - 09:04 AM

Note: Not trying to commit tax fraud, just trying to get an idea of how items are valued on TT for reporting purposes.

How do you value proprietary currency? In other words, do you place a value on gold coins, platinum coins, arrowheads, scales, etc. toward the W-9, or do you report cash earnings only. Thanks!

Mike
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#2 nikkums

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Posted 25 March 2019 - 12:43 PM

The only thing that is reported are any cash earnings that are paid to you.

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#3 mef730

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Posted 26 March 2019 - 10:36 AM

View Postnikkums, on 25 March 2019 - 12:43 PM, said:

The only thing that is reported are any cash earnings that are paid to you.

What about if I cash out for gift cards? Sounds like those do not count as cash.

Mike
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#4 nikkums

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Posted 27 March 2019 - 12:34 PM

Nope, gift cards don't count. Everything available in the Trading Hut is deemed as having no monetary value because it is purchased with a virtual currency. Only cash has a value.

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#5 mef730

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Posted 28 March 2019 - 08:43 AM

View Postnikkums, on 27 March 2019 - 12:34 PM, said:

Nope, gift cards don't count. Everything available in the Trading Hut is deemed as having no monetary value because it is purchased with a virtual currency. Only cash has a value.

Swell, thanks. That's why I named a dragon after you. A cute one, not a Splatterback.

Mike
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