Market IRS?

[roox101]

i have sold 150 items this calendar year. and now steam is asking for tax information im a minor so i dont have tax information. i dont know what to do. i understand its legal info but is there a way around it?

[cinedine]

You do have tax information. Ask your parents. No, there is no way around if you want to continue using the market during this calendar year.

[roox101]

ok thanks. i will ask my patents about it.

[cinedine]

Just as a heads up because no one reads the fine print:
providing false information leads to Valve locking the account. That is not something Valve does for laughs. Your information will be validated by a third party. Once you reach USD 20,000/year of income from the market, Valve will provide the information to the IRS. Income from digital good might be taxable in your state.

[roox101]

ok i wouldnt even attempt useing false information. XD im not ♥♥♥♥♥♥♥ around with the IRS im just going to wait for my mom to get home

[Washell]

Some info for your Mom:
Valve (who runs steam) needs to report all US Citizens that sell more than 200 items and make more than $20,000: https://www.irs.gov/businesses/understanding-your-1099-k

Since it's a mandatory report they could get heavily fined if they're unable to provide the information. They're making sure they have it by making you provide that information before you reach 200 sales, and well before you make $20k. Since you're unlikely to make $20k, it will never actually reach the IRS. If you do manage to make $20k+, make sure you set some aside to pay your taxes!

[Jill of Trades]

I applaud the kid/teen if he's actually making a good profit out of this. (profits greater than expenses)