they track it exactly the same way they do if you sell you shares or stamp collection: your bank or broker deals with the tax for you, or you have to declare it under threat of jail if you dont.
as you point out, SeamusO, for most its not an issue since there is a net loss. they dont want to bother tracking that inside the game.
Quote:
Originally Posted by Hardicus
I've always wondered, if you can pay tax on your gains from EU, can you also claim rebates on your losses?  |
an obvious risk if they start trying to tax within the game. as it is, it would be treated like any other hobby. if you are seen to be acting in a manner to make income, they'll tax you, otherwise they'll turn a blind eye (same as when you buy/sell a car, ebay stuff, car boot etc). If you set yourself up as a business, yes you could claim losses, but you'd have to convince the tax man that you are genuine.