RE: Valuing Steem Rewards As Taxable Income Is A Vast Overstatement Of Tax Liability - Part 3 - Powering Down - "Steem Power" Is Not a Tradeable Asset, It's a Proxy For Value Like A Stock Option

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RE: Valuing Steem Rewards As Taxable Income Is A Vast Overstatement Of Tax Liability - Part 3 - Powering Down - "Steem Power" Is Not a Tradeable Asset, It's a Proxy For Value Like A Stock Option

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finleyexp (60)in #taxes • 8 years ago (edited)

IF SteemIt is viewed as an Alternate Reality Game, then tax liability may arise when there's a Capital Asset Gain (Losses are another story). The only thing the tax payer really has to decide is if SteemIt usage is for business or a hobby.

https://www.irs.gov/businesses/small-businesses-self-employed/tax-consequences-of-virtual-world-transactions https://www.irs.gov/uac/is-your-hobby-a-for-profit-endeavor

8 years ago in #taxes by finleyexp (60)

$0.22

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