Are virtual assets taxable?

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Value is the issue

These items hold no 'real world' value. If the online company was charging you, per item, to make these individual items available as part of the game, then they are setting a value that players agree to pay. There is no intrinsic value to these items. They are, for lack of a better term, images. Look at it this way. Can the government tax a painting that has not been sold??? NO it has no value until a buyer and vendor agree to the price. Once a transactioned price is set and paid, THEN the object has value. If I never agree to pay 'real world' dollars for an in-game item, it holds no value outside of the game.

Posted by: gbrownzoot   Posted on: 01/17/06 You are currently: a Guest | Members login | Terms of Use

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