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Do you have to pay taxes on your Fortnite V-Bucks?

Apparently, V-Bucks and other video game currencies may be subject to federal taxes.

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Apparently, V-Bucks and other video game currencies may be subject to federal taxes.

The IRS added a short, yet troubling line to their tax code when defining ‘virtual currencies’ this past October. They specifically cited V-Bucks among the virtual currencies that could be taxed.

The definition read, “Bitcoin, Ether, Roblox [sic], and V-Bucks are a few examples of convertible virtual currency.” So, are we going to have to pay the IRS for stockpiling our V-Bucks and buying too many Fortnite skins?

Experts still don’t seem to be sure. Wednesday, February 12, the IRS scrubbed this line from their definition. Many surrounding the topic, including Brian Fung of CNN, stated that gamers should still treat V-Bucks as if the line had never been removed.

According to the CCN report, anyone who bought V-Bucks, Apex Coins, money in GTA Online, or anything in between will have to fill out a Form 1040, which asks, “At any time during 2019, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency?”

Those of us who have been buying all the skins we can afford, subscribing to the Battle Pass, and otherwise shelling out money to Epic Games might owe the federal government as well.

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As it turns out, you don’t have to pay taxes on your V-Bucks or any other in-game currency that is non-convertible. The IRS later clarified in a statement, shared by Brian Fung on Twitter.

“The IRS recognizes that the language on our page potentially caused concern for some taxpayers. We have changed the language in order to lessen any confusion,” the statement reads.

“Transacting in virtual currencies as part of a game that do not leave the game environment (virtual currencies that are not convertible) would not require a taxpayer to indicate this on their tax return.”

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Of course, you wouldn’t have to pay taxes on V-Bucks. This situation just goes to show you how out of touch some people are. The term ‘virtual currency’ has a massive reach, which means the applications of these currencies can be very different.

The IRS and reporters around the issue were treating V-Bucks like Bitcoin and Ether – actual, real-life money. If you buy Bitcoin and the price goes up, you need to report that on your earnings. Similarly, if the price goes down, you can count that as a yearly loss on your taxes.

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V-Bucks are static. You can only use them for in-game purchases. Sure, if you sold V-Bucks to someone then you’d theoretically have to pay taxes, but we’re the consumer. We’ve already paid.

So, no, you don’t have to pay taxes on your V-Bucks. That would have been something, though, wouldn’t it?

Esports

Bizzle joins old teammates after split with Commandment & Clix

Bizzle, Clix, and Commandment have split as Bizzle rejoins Dubs and Megga.

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There’s been a bit of shuffling in professional Fortnite trios over the past couple of days. The team of Bizzle, Commandment, and Clix has split, each going their separate ways. Bizzle joined his old partners, Megga and Dubs, While Commandment joined Edgey and Cented. For now, Clix is the only one of the three to not have a trio team.

This news comes after a rough server performance in a recent Trios tournament, which saw all of the players rubber-banding, lagging, and being lost in the storm with no way to get out. As Bizzle tweeted, the performance looked like one of the first Fortnite tournaments to exist.

Following this tournament, Commandment was the first to announce that he’d be leaving the team. Bizzle released a TwitLonger, stating that he’d be teaming back up with Megga and Dubs rather than looking for a third player to join him and Clix.

The TwitLonger also took aim at the current state of competitive Fortnite along with the server performance. “The Shockwave launcher disabled us from playing the way we were used to and crazy end game lag lead to a lot of thrown games. Every game we would have height, or outplay the team who had it and take it from them, and with the Shockwave launcher being in the game it completely ruined our play-style and attitude,” he wrote.

Despite the split, the three players appear to be on good terms with one another. Clix replied to Bizzle’s tweet, telling him that he’s the best player that Clix has played with.

The most interesting part of this situation is that Chap and Edgey called this split a few weeks back. The dueling trios were having a grief battle in pro scrims, leading to Chap telling his team and viewers, “I can’t wait for this trio to split.”

Edgey, who is ironically now teamed-up with Commandment, told Chap and Av that Bizzle and Clix would “snake each other for Dubs and Megga.” It may not have ended in any bad blood, but that’s essentially what happened.

Although the Season 3 FNCS is Solos, most of the pros prefer the Trios format, meaning that’s what we largely see in scrimmages. We’re also seeing several Trios tournaments and Cash Cups this season, so we’ll undoubtedly see the new teams hit Season 3 soon. Now, all that’s left is to see where Clix lands. Fellow NRG member UnknownArmy needs a team…

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PlayStation 4

How to claim the new PlayStation Plus Celebration pack

Epic and Sony have joined forces to offer PlayStation players another free Fortnite cosmetic pack.

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Yesterday, we covered the news of Sony’s large investment in Epic Games and what that meant for Fortnite. One of our biggest takeaways in the article is that PlayStation would likely get some additional exclusive cosmetic bundles for their players.

It didn’t take long for this to come to fruition. A day later, Epic announced the new PlayStation Celebration bundle to go along with their other exclusive skins. This one includes the “Introducing” emote, Stratosphere Glider, and Down Arrow Contrail.

The Celebration Pack should be available to all players, worldwide, on July 10. Some players already have access to it. Those who have already claimed their exclusive Fortnite cosmetic items should know the process, but here it is for those who are unaware:

  • Visit the PlayStation Store
  • Navigate to Fortnite
  • Scroll down until you see the new Celebration Pack
  • Download the cosmetic pack.

This pack replaces the old Celebration Pack that included a couple of free skins, but you can grab both if the former pack is still in the shop. Don’t worry too much if you missed it, as we expect Fortnite to release several exclusive PlayStation packs in the future.

We don’t know how long this bundle will be in the store, but you can expect it to last a couple of months, at least. Grab it now to make sure you don’t miss out!

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Epic Games

What does the $250 million Sony investment mean for Fortnite?

The implications of a massive investment on the biggest game in the world, Fortnite.

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On July 9, it was announced that Sony invested $250 million in Fortnite developer, Epic Games, making them a minority investor in the company. This brings Epic’s total investment capital to $1.58 billion.

Epic has been a major player in video games for a long time but made their biggest mark on the space with Fortnite, the game that we all came here to talk about.

Although Fortnite is Epic’s biggest product, at the moment, the company has their hands in several different titles and sources of income The Epic Games store, for instance, is looking to rival Steam by purchasing some massive games as exclusive content.

According to multiple reports, Sony’s investment in Epic will not affect the release of future titles. It’s not like Epic are going to make Fortnite a PlayStation exclusive. It might work in reverse, however. There’s a chance that Sony could bring some of their PlayStation exclusives to the Epic Games store on PC.

What does this mean for Fortnite? Well, in the words of Rod ‘Slasher’ Breslau, “Fortnite will never die.” This is a tad hyperbolic, but it’s clear that the gaming industry, as a whole, is ready for Fortnite to stick around for another ten years, or so. It wouldn’t be the first game to have a massive lifespan.

Apart from some additional money to work with, the biggest thing this means for Fortnite is probably in the cosmetic department. Now that Sony is a major investor in Epic, we can expect the developer to scratch their back with some exclusive skins.

Don’t worry, though. PlayStation players probably won’t get any priority when it comes to using new features or anything like that. What does the $250 million Sony investment mean for Fortnite? Ten more years of our favorite battle royale.

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