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Old 04-27-2013, 10:23 PM   #1
Birizinho
 
 
 
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Limit of 200 trades a year (Steam Community Market)

Under Internal Revenue Code section 6050W, the U.S. Internal Revenue Service requires us to determine whether you are a U.S. citizen or resident alien before permitting you to sell more than 200 items in the community market in a single calendar year. If you are a U.S. citizen or resident alien, the IRS also requires us to collect your Social Security number or other Taxpayer Identification Number. Please note that we are not required to report this information or information about your sales to the IRS under section 6050W of the Internal Revenue Code unless you engage in more than 200 sales in a single calendar year AND the gross sales proceeds from those sales exceeds $20,000 in a single calendar year. For more information, you can view the Community Market FAQ here.

I need to pay anything in real life if I sign up? (I do not live in the U.S.)
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Old 04-27-2013, 10:26 PM   #2
MeBot
 
 
 
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Considering the steam market (And most of the Internet) is not under U.S. law, I would say no.
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Old 04-27-2013, 10:29 PM   #3
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Quote:
Please note that we are not required to report this information or information about your sales to the IRS...unless the gross sales proceeds from those sales exceeds $20,000 in a single calendar year
Unless you spend over 20K on those Steam Community trades every year, you're fine even if the laws apply, which asa above they probably won't.
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Old 05-24-2013, 03:40 PM   #4
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So i am about to break 200 transactions .. and if i were to end this year with even 19,000 in sales(unlikely but as an example). i would be all good ( as in i don't pay taxes ), as long as i don't go over 20k a year yes?
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Old 05-24-2013, 03:49 PM   #5
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If you're not a U.S. citizen, you can earn all the millions you want.
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Old 05-24-2013, 03:55 PM   #6
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did a bit of reading , found this bit

The United States Internal Revenue Service requires us to report gross sales for, and provide IRS Form 1099’s to, only those subscribers who are U.S. citizens or residents and who exceed 200 sales transactions in a calendar year and also exceed $20,000 in gross sales proceeds from those sales transactions in that same calendar year, from all of that subscriber's accounts. If you are a U.S. citizen or resident and exceed both of these thresholds, we will report the amount of gross sales to the IRS and provide you with Form 1099.

This is good news for me
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Old 05-24-2013, 04:11 PM   #7
colwag
 
 
 
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But do you really make $20,000 in revenue?

Maybe if it was being turned into Paypal dollars, but Steam Bucks would not count as actual US currency, would it?

I don't see how this would count as actual income until you "cash out" on Paypal.
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Old 05-24-2013, 04:12 PM   #8
Red Axem Ranger
 
 
 
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Originally Posted by MeBot View Post
Considering the steam market (And most of the Internet) is not under U.S. law, I would say no.
Just you wait, the day is coming, muhahaha!
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Old 05-24-2013, 04:20 PM   #9
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If you want to make more than 200 transactions, you have to give your name, address, and Social Security number to Valve so they can give it to the IRS if necessary. However, they'll only do so if you make over $20,000 from the Steam Market in a year, and I'd be surprised if anyone even has $20,000 worth of things to sell.
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Old 05-24-2013, 04:23 PM   #10
ticklebeast
 
 
 
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Originally Posted by Taxicab1729 View Post
If you want to make more than 200 transactions, you have to give your name, address, and Social Security number to Valve so they can give it to the IRS if necessary. However, they'll only do so if you make over $20,000 from the Steam Market in a year, and I'd be surprised if anyone even has $20,000 worth of things to sell.
This is what i wanted to know , yea so i can fire away on my listings.. i doubt i'd even do 5k in a year lol
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Old 05-24-2013, 04:59 PM   #11
jjjon123
 
 
 
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I just realized that if you have a alternate account with a different email address you can use steam market after the 200 item limit.

Just buy a #2 game or $5 of items in the in game store and wait 30 days
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Old 05-24-2013, 06:54 PM   #12
par print 01
 
 
 
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Originally Posted by jjjon123 View Post
I just realized that if you have a alternate account with a different email address you can use steam market after the 200 item limit.

Just buy a #2 game or $5 of items in the in game store and wait 30 days
Watch out for that IRS choppers dude.
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Old 07-20-2013, 07:25 AM   #13
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Has anyone completed the paperwork for the 200 item limit? Is it as easy as filling out a form on the website, or do I have to deal with real paperwork and Steam support? I've been holding off on selling cheaper stuff on the market because I didn't want to hit that limit.
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Old 07-20-2013, 07:30 AM   #14
MuffinOrama
 
 
 
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Is there any way to get around this if you're NOT an american citizen nor live in america? I would really hope that Steam doesn't apply a blanket rule for one nationality that snags every country in the world pretty much.
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Old 07-20-2013, 07:51 AM   #15
Fingolas
 
 
 
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Quote:
Originally Posted by CaptainTrips00 View Post
Has anyone completed the paperwork for the 200 item limit?
Here, let me give you a handy guideline:

If you have to ask whether you need to fill in any paperwork, you don't.

Because I seriously doubt anyone incapable of understanding such a simple sentence as "200 items AND more than $20.000" would trade anywhere near that limit.
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