@bazaarofbaghdad said in MTGO:
@chronatog MTGO prizes are in digital objects of no value. Only if you "cash out" do you realize reportable income. FWIW, when I sold off $7500 worth of digital cards last year, I reported those on my taxes.
Stocks in ones brokerage account are also digital objects. However, they have value. Many so-called crypto-currency investors learned in a painful way that their tokens also have value.
Since everything on MTGO is valued in tickets and, to my knowledge, one ticket is one dollar as WotC sells tickets at this price, perhaps there is a preponderance of evidence indicating that digital objects on MRGO have value.
Anyway, I'm not arguing about how it should be. I'm trying to understand how it is now or can be in the nearest future. Magic is a hobby and as any hobby it cost money and time, but provides some economic utility. So that's alright to spend money on your hobby directly or indirectly through taxes. It's not right to create any complications with the IRS.
Is there any official explanation from WotC?