I got this message on the Marketplace that says if I list 200 items in a year I have to give Steam my tax info. Do I have to pay taxes for selling cards on Steam?

9 years ago*

Comment has been collapsed.

" For U.S. citizens and residents, as discussed above, we are obligated to collect certain taxpayer identifying information from those who engage in more than 200 transactions in a calendar year, but no information is reported to the U.S. Internal Revenue Service unless your gross revenues from such sales exceed $20,000. Ultimately, the responsibility for determining any income tax liabilities, if any, which you may have rests with you, and so if you are concerned about the issue you should consult your own tax advisor."

From the market faq

9 years ago
Permalink

Comment has been collapsed.

Not unless you make like 20,000 dollars or something selling cards in a year, which is kind of unlikely, but Steam won't let you sell anything more in the Marketplace unless they get tax information to submit to the IRS should you ever just happen to do really well using it.

9 years ago
Permalink

Comment has been collapsed.

Deleted

This comment was deleted 5 years ago.

9 years ago
Permalink

Comment has been collapsed.

Who you asking? :)

The IRS (and probably your state if you have state income tax) is going to say, "Yes" at any given time, to anything you sell or profit from, no matter what, because they want every cent possible.

Your CPA may/may not agree, depending on how by-the-book they are.

Valve is just protecting themselves. We 1099 and receive 1099s all the time. Not atypical.

9 years ago
Permalink

Comment has been collapsed.

READ it. Jesus.

9 years ago
Permalink

Comment has been collapsed.

just read dude

it's for your own good and you are too lazy to read that?

9 years ago
Permalink

Comment has been collapsed.

Sign in through Steam to add a comment.