Tax on Virtual Income
By amko1of1
@amko1of1 (69)
United States
March 26, 2012 4:35pm CST
I have a question for all of you who earn money in HYIPS, ptcs, or online investments and whatever. I was wondering how you file that for your taxes or even if you do pay taxes. I live in the U.S. so I am most curious about American law on this. If you have any ideas I would be very appreciative as I am trying to stay legal with my online dealings.
1 person likes this
4 responses
@tonyllenium (6252)
• Italy
26 Mar 12
mmh i am not american but before worry about tax i think you should consider if you earn so much from different sites so you need consider tax payments.....
@tonyllenium (6252)
• Italy
29 Mar 12
i think it depends from tax laws in your country anyway i think it depends also from your general income considering also you offline nd not only online income!
@SomeCowgirl (32191)
• United States
26 Mar 12
Hello there, this is a question that has been asked a million times over here. $600.00 is the mark that you'd have to earn to file. You'd fill out the independent contractor form, I forget which one that is. Mylot NOW, though they didn't in the past, sends out a form if I am not mistaken.
You won't have to worry about it unless you do use all of these sites and think that you will earn that much in a years time.
@lowyder (282)
• Canada
27 Mar 12
i dont think you would be taxed from virtual income no but i may be wrong it just doesnt seem like could prove what you earned and there would be a possible way to claim to much back or something the gov. would worry bout im not sure how laws work there as im in canada,.but goodluck
