Are you required to pay taxes for selling gold?

Discussion in 'RuneScape 3 Cheating' started by Elietu, May 10, 2011.

Thread Status:
Not open for further replies.
Sign in to Post
Thread Tools

Thread Tools

  • Thread ID:
Page 1 of 3
Are you required to pay taxes for selling gold?
  1. Unread #1 - May 10, 2011 at 7:28 PM
  2. Elietu
    Joined:
    Mar 3, 2011
    Posts:
    164
    Referrals:
    0
    Sythe Gold:
    0

    Elietu Active Member

    Are you required to pay taxes for selling gold?
    I sold 1b for $500 and i was wondering if i have to report this as income.(this was done through paypal)
     
    Share
  3. Unread #2 - May 10, 2011 at 7:42 PM
  4. nissan nut
    Joined:
    Jun 9, 2008
    Posts:
    458
    Referrals:
    4
    Sythe Gold:
    29

    nissan nut Forum Addict

    Are you required to pay taxes for selling gold?
    lol no...
     
    Share
  5. Unread #3 - May 10, 2011 at 7:44 PM
  6. wtfomfgbbq101
    Joined:
    Oct 27, 2010
    Posts:
    554
    Referrals:
    0
    Sythe Gold:
    0

    wtfomfgbbq101 Forum Addict

    Are you required to pay taxes for selling gold?
    No.. why would you want the government messing with ya money?! You crazy!
     
    Share
  7. Unread #4 - May 10, 2011 at 7:51 PM
  8. DrDeath
    Joined:
    Jan 21, 2007
    Posts:
    2,164
    Referrals:
    1
    Sythe Gold:
    2
    Discord Unique ID:
    151151412225507328

    DrDeath Grand Master

    Are you required to pay taxes for selling gold?
    Actually I think there is a law that if you make over a certain amount of money from selling things on the internet, via paypal, you do have to report taxes on them. A friend and I were actually talking about this the other day.
     
    Share
  9. Unread #5 - May 10, 2011 at 7:52 PM
  10. Swin
    Joined:
    Mar 30, 2011
    Posts:
    954
    Referrals:
    0
    Sythe Gold:
    0

    Swin Apprentice
    Banned

    Are you required to pay taxes for selling gold?
    Not at all.

    But the seller did have to pay some fee's to sell that money, which goes to PayPal taxes. I believe?
     
    Share
  11. Unread #6 - May 10, 2011 at 7:56 PM
  12. KozaShop
    Joined:
    May 10, 2011
    Posts:
    6
    Referrals:
    0
    Sythe Gold:
    0

    KozaShop Newcomer

    Are you required to pay taxes for selling gold?
    with low amounts, no
    but with higher amounts the IRS may be involved.
    check the laws in your area
     
    Share
  13. Unread #7 - May 10, 2011 at 8:46 PM
  14. berserker_helm
    Joined:
    Mar 25, 2007
    Posts:
    912
    Referrals:
    0
    Sythe Gold:
    0

    berserker_helm Apprentice
    Banned

    Are you required to pay taxes for selling gold?
    I doubt you have anything to worry about..

    (How in the hell is anyone going to find out, anyway?)
     
    Share
  15. Unread #8 - May 10, 2011 at 9:08 PM
  16. Rune Scimmy
    Joined:
    May 1, 2011
    Posts:
    250
    Referrals:
    0
    Sythe Gold:
    0

    Rune Scimmy Forum Addict

    Are you required to pay taxes for selling gold?
    Nothing to worry about your not a business so you don't have to pay the taxes.
     
    Share
  17. Unread #9 - May 10, 2011 at 9:53 PM
  18. bunmeister82
    Joined:
    Mar 16, 2011
    Posts:
    516
    Referrals:
    0
    Sythe Gold:
    0

    bunmeister82 Forum Addict

    Are you required to pay taxes for selling gold?
    Unless you're actually making a living outta this, then.. uhh.. nope. Same with selling your crap on ebay, no tax from income there!
     
    Share
  19. Unread #10 - May 10, 2011 at 10:02 PM
  20. Veni
    Joined:
    Nov 8, 2007
    Posts:
    802
    Referrals:
    0
    Sythe Gold:
    420
    Two Factor Authentication User

    Veni Formerly known as Autorrent
    $200 USD Donor New

    Are you required to pay taxes for selling gold?
    The IRS only comes looking if you have over 20,000 on paypal in trades. Not to worry mate.
     
    Share
  21. Unread #11 - May 10, 2011 at 10:06 PM
  22. TahBreezy
    Joined:
    Oct 29, 2010
    Posts:
    1,006
    Referrals:
    0
    Sythe Gold:
    0

    TahBreezy Guru

    Are you required to pay taxes for selling gold?
    You don't have to worry about it, the government won't mess with you unless you have ALOT of trades on paypal.
     
    Share
  23. Unread #12 - May 10, 2011 at 10:06 PM
  24. eennee
    Joined:
    Jul 28, 2010
    Posts:
    2,354
    Referrals:
    1
    Sythe Gold:
    36
    Discord Username:
    Ooogen
    Easter 2013 <3 n4n0

    eennee <>The Chemist<>
    $100 USD Donor New

    Are you required to pay taxes for selling gold?
    Psh even if I made $500 through work, I wouldnt report it to the Gov...
     
    Share
  25. Unread #13 - May 10, 2011 at 11:15 PM
  26. Sei Italiano
    Joined:
    Feb 4, 2009
    Posts:
    578
    Referrals:
    1
    Sythe Gold:
    1

    Sei Italiano Forum Addict

    Are you required to pay taxes for selling gold?
    I wouldnt think so
     
    Share
  27. Unread #14 - May 10, 2011 at 11:31 PM
  28. rinky
    Joined:
    Apr 11, 2010
    Posts:
    365
    Referrals:
    0
    Sythe Gold:
    0

    rinky Forum Addict

    Are you required to pay taxes for selling gold?
    Unless you sell something for over 20 grand nothing can happen. :)
    That's why cars and things like that are rarely bought on ebay
     
    Share
  29. Unread #15 - May 10, 2011 at 11:43 PM
  30. Pockets
    Joined:
    Mar 20, 2011
    Posts:
    5,584
    Referrals:
    0
    Sythe Gold:
    0
    Connect 4 Champion Green Finger

    Pockets Don't cheat the man in the glass.
    Zombie Retired Sectional Moderator Competition Winner $100 USD Donor New

    Are you required to pay taxes for selling gold?
    I actually talked to a friend in finance because I was a little concerned. He said that as long as transactions aren't exceeding $10,000 I should be fine
     
    Share
  31. Unread #16 - May 10, 2011 at 11:46 PM
  32. Hahanerd
    Joined:
    Jul 25, 2009
    Posts:
    19,239
    Referrals:
    86
    Sythe Gold:
    1,410
    Discord Unique ID:
    224351757424132106
    Discord Username:
    Hahanerd
    Former OMM Pool Shark (2) Detective Two Factor Authentication User Nitro Booster In Memory of Jon Rio 2016 Community Participant Sythe's 20th Anniversary

    Hahanerd sportsisland.org - RSGP & Crypto Betting
    Market Moderators Cracker Head Mudkips $100 USD Donor

    Are you required to pay taxes for selling gold?
    This the correct answer. Nick had to report it to the government since there was $20,000+ coming in and out of his PayPal in a year's time.
     
    Share
  33. Unread #17 - May 10, 2011 at 11:49 PM
  34. Pockets
    Joined:
    Mar 20, 2011
    Posts:
    5,584
    Referrals:
    0
    Sythe Gold:
    0
    Connect 4 Champion Green Finger

    Pockets Don't cheat the man in the glass.
    Zombie Retired Sectional Moderator Competition Winner $100 USD Donor New

    Are you required to pay taxes for selling gold?
    Was that 20k total or 20k in either direction?
     
    Share
  35. Unread #18 - May 11, 2011 at 12:12 AM
  36. shawnwill1210
    Joined:
    Feb 3, 2011
    Posts:
    454
    Referrals:
    0
    Sythe Gold:
    2

    shawnwill1210 Forum Addict

    Are you required to pay taxes for selling gold?
    please do not file taxes for selling gold... the govt would have no idea you made that money so just pocket it
     
    Share
  37. Unread #19 - May 11, 2011 at 12:16 AM
  38. Veni
    Joined:
    Nov 8, 2007
    Posts:
    802
    Referrals:
    0
    Sythe Gold:
    420
    Two Factor Authentication User

    Veni Formerly known as Autorrent
    $200 USD Donor New

    Are you required to pay taxes for selling gold?
    Paypal is required by law to file taxes on 20k or more, it really can't be avoided. :(
     
    Share
  39. Unread #20 - May 11, 2011 at 12:42 AM
  40. kmjt
    Joined:
    Aug 21, 2009
    Posts:
    14,450
    Referrals:
    8
    Sythe Gold:
    449

    kmjt -.- The nocturnal life chose me -.-
    Banned

    Are you required to pay taxes for selling gold?
    What about if I were to just use Western Union?
     
    Share
Page 1 of 3
< Looking at buying a medium sized bot farm. | iDunge changing attack styles.. >

Users viewing this thread
1 guest
Thread Status:
Not open for further replies.


 
 
Adblock breaks this site