4 ms·
I would figure that the conversion to cash would be the taxable event. After all their value is largely indeterminate (and at that point 0) while the collectibl
by pdntspa 4y ago
I would figure that the conversion to cash would be the taxable event. After all their value is largely indeterminate (and at that point 0) while the collectible is being given out.
IIRC this created problems for Blizzard when they did the real money auction house on Diablo III, and was part of why that was ended.
- joshuamorton 4y agoI agree for assets like those, the point is that for many other assets (art, Bitcoin, cash, stock), receipt of the asset for less than market value is also taxable. But those usually have more developed secondary markets where prices can be widely known (and also nontrivial value). I can at least see the argument.