Western union and taxes

[wowman2]

I have a few questions about western union. Only done paypal before.

1. Is it like paypal where the payment is sent either as a "gift" or "payment for goods or services"

2. If number 1 applies how should runescape gold payments be sent

3. Does western union report to the IRS what you get sent?

4. What is the most you should receive at one time for runescape gold via western union?

 

[S]

I have a few questions about western union. Only done paypal before.

1. Is it like paypal where the payment is sent either as a "gift" or "payment for goods or services"

No.

However, when sending If i recall correctly you address what type of service you're paying for. I.e, online goods, services, work payment, etc. Whenever I sold/bought RSGP, I would enter it as online goods, or simply goods.

2. If number 1 applies how should runescape gold payments be sent

Goods.

3. Does western union report to the IRS what you get sent?

I'm not 100% sure on this, however - if you receive less than $10,000 yearly, I don't think so. Also, if you receive more than $1000 per transaction, you'll need to state that parameters of said transaction.

4. What is the most you should receive at one time for runescape gold via western union?

As above, If I recall correctly, it's $1000 as you don't need to state why. You can chose to receive more/less, its your choice.

You can google all the above answers to double check. Or call them.

 

[wowman2]

Thank you! is there any "gift" option via western union to negate this 10,000 a year limit?

 

[wowman2]

Also what would the parameters of the transactions be for runescape gold? Is it even legal to receive money for runescape gold via western union?

Lastly, if I want to report this income how would I do so? I.E what forms and under what lines?

*not asking for tax advice just information regarding the law *

 

[S]

Thank you! is there any "gift" option via western union to negate this 10,000 a year limit?

No.

Also what would the parameters of the transactions be for runescape gold? Is it even legal to receive money for runescape gold via western union?

Lastly, if I want to report this income how would I do so? I.E what forms and under what lines?

*not asking for tax advice just information regarding the law *

Yes it's legal. You don't have to say it's RSGP. If you really feel the need to disclose where it came from, you can just say from an online game, levelling services, or whatever.

I'm not sure as to reporting it as income, as I've never done so.

However, if you ask Busta305, Nick or R2Pleasent about reporting it as income, they may be able to help you as they declare their income from services as such.

 

Yes it's legal.

Just in addition to this point: selling RSGP is not illegal. It breaks a game's TOS. That's all.