H
hawkjm73
Guest
Arizona
I don't know if anyone here is familior with gold games, but the idea is, you send someone money through e-gold (an online currency) and overtime they send the money back with some amount of gain. Most are scams, so it is difficult to truly gain money this way, but a gain of one percent per day is doable. Non-scam sites seem to invest in the forex market.
How should one report the income from such ventures. If an account with a gold game site compounds, so that I do not have actual possesion of the money, do I report the income when the money reaches the account, or when I take the money out as cash? Both the site in question and e-gold are based in the U.S.
I don't know if anyone here is familior with gold games, but the idea is, you send someone money through e-gold (an online currency) and overtime they send the money back with some amount of gain. Most are scams, so it is difficult to truly gain money this way, but a gain of one percent per day is doable. Non-scam sites seem to invest in the forex market.
How should one report the income from such ventures. If an account with a gold game site compounds, so that I do not have actual possesion of the money, do I report the income when the money reaches the account, or when I take the money out as cash? Both the site in question and e-gold are based in the U.S.