@tk421242 actually i believe this would be deemed a barter of sorts. In the US tax on barter would be based off of fair market value (and deemed income no matter what). In other countries its usually taxed on profit and loss of said trade based on market value. Except that this is an internet based trade from another country, so good luck with that, its probably there I just don't know where, for instance buying a card is a form of income except you would lose out on time, energy bill, rent and so on, so in a sense it is definitely earned income at a loss. unless you live in the same country as CCP. it's prolly safe to not report unless you make a significant amount from transactions
@Scuffles I don't think you understand what currency really is. Nor have the knowledge to really criticize an article for the proper use of the term.
Currency is any identical object of exchange AND holds some sort of value (i assume ISK is generated like other MMOs and therefore the tradeoff would be time spent to earn). Now just because it says ISK is in game currency does not mean it is the only form of currency. The US government uses dollars as fiat currency meaning it is illegal to not accept as payment for good or service, it used to be that the dollar was backed by a gold reserve and could be traded for gold, Gold is a commodity and currency and has been that way for aeons.
PLEX is a commodity; it is a good(really a service) that can be used and disappear forever. HOWEVER, it is a perfectly fungible commodity; meaning if i ask you for 1 PLEX and promise to repay at the end of the month, you will get the EXACT same good. Now because it is a fungible good AND a store of value(either 1 month of playtime OR $14 USD) it is a form of currency by definition.
Not only that, now PLEX is even easier to use as currency due to the trade of real world goods. Meaning PLEX holds its value better than ISK, which ISK would be inherently depreciating in value because it can presumably be earned in game and constantly being created, while PLEX is dependent on the use of RL money which depending on demand could appreciate (ISK wise, not RL$)
Preorders got you... well nothing really; but at least you don't feel left out because you hate the customer service (and business practice**) of one particular store.
EVE Online players can use in-game currency to pay for real-life graphics cards
Mar 27th 2012 5:04AM (Joystiq)actually i believe this would be deemed a barter of sorts.
In the US tax on barter would be based off of fair market value (and deemed income no matter what).
In other countries its usually taxed on profit and loss of said trade based on market value.
Except that this is an internet based trade from another country, so good luck with that, its probably there I just don't know where, for instance buying a card is a form of income except you would lose out on time, energy bill, rent and so on, so in a sense it is definitely earned income at a loss.
unless you live in the same country as CCP. it's prolly safe to not report unless you make a significant amount from transactions
EVE Online players can use in-game currency to pay for real-life graphics cards
Mar 27th 2012 3:35AM (Joystiq)I don't think you understand what currency really is. Nor have the knowledge to really criticize an article for the proper use of the term.
Currency is any identical object of exchange AND holds some sort of value (i assume ISK is generated like other MMOs and therefore the tradeoff would be time spent to earn). Now just because it says ISK is in game currency does not mean it is the only form of currency. The US government uses dollars as fiat currency meaning it is illegal to not accept as payment for good or service, it used to be that the dollar was backed by a gold reserve and could be traded for gold, Gold is a commodity and currency and has been that way for aeons.
PLEX is a commodity; it is a good(really a service) that can be used and disappear forever. HOWEVER, it is a perfectly fungible commodity; meaning if i ask you for 1 PLEX and promise to repay at the end of the month, you will get the EXACT same good. Now because it is a fungible good AND a store of value(either 1 month of playtime OR $14 USD) it is a form of currency by definition.
Not only that, now PLEX is even easier to use as currency due to the trade of real world goods. Meaning PLEX holds its value better than ISK, which ISK would be inherently depreciating in value because it can presumably be earned in game and constantly being created, while PLEX is dependent on the use of RL money which depending on demand could appreciate (ISK wise, not RL$)
Batman: Arkham City pre-orders at GameStop include challenge maps
Mar 22nd 2011 12:42AM (Joystiq)Preorders got you... well nothing really; but at least you don't feel left out because you hate the customer service (and business practice**) of one particular store.
**http://www.joystiq.com/2007/03/25/gamestop-shenanigans-sell-open-games-as-new/
Video: Xbox Live Enforcement at work
Mar 18th 2011 1:36PM (Joystiq)here you go.
http://www.motifake.com/image/demotivational-poster/small/1002/calamity-southpark-wow-nerd-nietzsche-demotivational-poster-1266004511.jpg
FPM: First-person Mario
Mar 18th 2011 1:55AM (Joystiq)The goomba groin shot achievement is nigh impossible to get!
Australian federal govt presses for consensus on R18 game rating creation
Mar 18th 2011 1:49AM (Joystiq)http://rlv.zcache.com/flying_alligator_shirt-d2358287407213395682c6ls_210.jpg
Australian federal govt presses for consensus on R18 game rating creation
Mar 18th 2011 1:47AM (Joystiq)SOCOM 4 lets you dance victoriously over your enemy's corpse
Mar 17th 2011 12:08AM (Joystiq)Xbox Live Labs: Do it for science, do it for avatar items
Mar 10th 2011 11:39AM (Joystiq)It blinded him with science.*
*dedicated to Roncore
Minecraft clone coming to Xbox Live Indie Games: FortressCraft
Feb 23rd 2011 12:06AM (Joystiq)Everyone copies. Nearly everything is a homage of something. The problem is when it's obviously blatant.