Fortnite taxes

Practical and Practice issues for Professionals who practice in the area of taxation. Moral, social and economic issues relating to taxes, including international issues, the U.S. Internal Revenue Code, state tax issues, etc. Not for "tax protestor" issues, which should be posted in the "tax protestor" forum above. The advice or opinion given herein should not be relied on for any purpose whatsoever. Also examines cookie-cutter deals that have no economic substance but exist only to generate losses, as marketed by everybody from solo practitioner tax lawyers to the major accounting firms.
Arthur Rubin
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Fortnite taxes

Post by Arthur Rubin »


IRS quietly deletes guideline that Fortnite virtual currency must be reported on tax returns
By Brian Fung, CNN Business
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The story goes on to say that the IRS guidelines on virtual currency mentioned "V-buck"s as a virtual currency that needed to be reported, along with Bitcoin, Ethereum, and other more conventional cryptocurrencies. The new guidelines only mention Bitcoin.

Their reporter goes on to say that V-bucks might need to be reported in the questionaire on Schedule I, even if they turn out not to be taxable. Other experts suggest that currency which cannot be pulled out of the game need not be reported.
Arthur Rubin, unemployed tax preparer and aerospace engineer
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