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Justinen posted:The land I own generates income daily based on the player activity. It isn't a piece of land that is resold for value, rather held onto and managed like a business. There will be a steady income of about $300-600 every month and I wasn't sure how to declare that on taxes. I appreciate your response! Yeah that’s just regular income - if they send you a tax document, use that - would … a 1099-DIV be appropriate? Kind of! Edit: no not at all once I read more about the game. I have no idea what they’d send you if anything. If they don’t send you any tax documents, you might want to put it on your 1040 schedule 1, line 3. If you don’t consider it a business, but rather a hobby (like if you play the game for fun and the money is totally ancillary), uh… schedule 1, line 8i? Either way it just adds to your total income and you pay your regular marginal tax rate on that. But, the main reason I’m here is to say that there’s no way you’re going to make that money back and you should try to claw back as much as you can right now. if someone is offering you double digit percentage returns and you don’t have to do anything except give ‘em thousands of dollars up front… No way, man. Come on. SolTerrasa fucked around with this message at 06:25 on Oct 13, 2022 |
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Oct 13, 2022 06:22
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qhat posted:How do you know the OP wasn't the con man? the con man gets money but the op spent money
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Oct 13, 2022 21:07
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