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This is specifically why it's expressly forbidden to try - because money laundering. By its own rules, the Steam Wallet is already basically products 'paid for' and cannot be considered money.
does not really matter if you can not use it somewhere else. you still can have financial value gain.
I thought they'd stopped asking folks to fill that form out?
https://support.steampowered.com/kb_article.php?ref=6088-udxm-7214#providing1099s
Users are responsible for reporting any and all earnings themselves.
https://support.steampowered.com/kb_article.php?ref=6088-udxm-7214#incometaxes
Steam Wallet Funds are not a currency in the sense that the IRS is asking. Steam Wallet is no more a currency than a Dave and Busters gift card.
Don’t spread misinformation and make users commit tax fraud
I would encourage people who have questions to ask a tax expert/lawyer/etc. but as I understand it reporting realized cash earnings from virtual item sales and reporting stake in virtual currencies are two different things.
well, as far as i know from other marketeers, if you live in the US the irs wants at least confirmation for these transactions and the process was, they send letter, you send documentation back and done. it was convenient with the reminder.
i also received my last tax thing (non-US) this january and Steam was on it but they dont want anything that is not going in to a bank so it was listed as non-taxable transactions.