I bought a house with video game cosmetics (CS:GO)

[@trickdeck]

I don't think I'll ever reach the point of needing this information, but I appreciate what you're doing for the CS investing community with these videos. Also congratulations on getting a house.

[@ptreeNA]

if you put $500 into breakout cases in 2016 you would be in this position yourself. It doesn't have to be a big win we just keep grinding

[@alvaroabdalla4925]

@@ptreeNAholy how many cases you got??

[@alvaroabdalla4925]

@@ptreeNAthats like 116k USD lol

[@ptreeNA]

I know I will come off as an idiot in this video as I feel like an idiot making it but here's some context. By the time the paperwork was getting completed I had already been kicked out of my house so I was living in the old kitchen at work. It wasn't exactly an ideal circumstance so I did basically whatever was asked in hope of moving in maybe a few days earlier. I want to reiterate that you should listen to a professional (and seek one out that has experience). I won't act like I fully understand the process or exactly what banks are looking for and that's why they get paid the big bucks. I also will have no idea how different countries approach these types of things as responses from my original tweet were anywhere from "I'm not surprised it was a disaster" to "I have withdrawn thousands and never had any issues". This is purely a glimpse into the process I went through to give some context as to what can happen. What I will say is that I would strongly advise against crypto route as I believe my problems stemmed from that suggestion.

[@tree2play]

you're not an idiot at all, and didnt need to justify. yea it might look silly to the ppl outside CS (thats why I dont say I make money off a video game), but both you and I know the maths and financial knowledge needed to make money from this market. Edit: idk if its a fortunate thing or not, but I live in a country that lacks laws and regulations, so I withdraw my CS money with no issue nor tax, and its easy to even launder it into the system if needed (big amount of cash)

[@xxi7052]

@@tree2play which country please?

[@tree2play]

@@xxi7052 Egypt, and be very very VERY careful of scammers and thieves. GL

[@1kelcs]

i am coming to your house

[@JustMaDCS]

Thanks for helping us out with your experience, this still seems like a daunting task to go through but maybe we can avoid some of the mistakes.

[@EpicDonutDudeMemes]

going to be interesting doing this with a lot of cases

[@Glider7]

Glad it all worked out for you man... If I ever get lucky to pull an item close to that, I know who to call 😄

[@RAVEOPS]

One of the best cs videos i have watched in a while! So much helpful information, good job.

[@stealthyjun]

You got lucky, most banks would just deny putting the man hours into a unique case like this one.

[@cstrends]

Great video, you provided some really valuable information in this one that I'm sure will help a lot of people 👍

[@cs_mns]

what a nightmare, i am glad it worked out for you in the end - and grats on the house man :)

[@candyy12345]

Nice video. Gives a perspective of the end result, it would be a dream come true for me to own a house, maybe one day. Anyways love the videos prtee of NA, hope all is well.

[@insertmoney2189]

What if you just sell the skins for crypto and then say you got the balance from crypto?

[@LooK4CioOBy]

Happy for you,man! Much luv!

[@wotzyt]

This was a really well informative video, much love to you for achieving this!!❤❤

[@eXartoREAL]

Hey, Im happy you talk about this topic. I was going through similar exp where I ended up handling it like digital assets. the biggest problem I found out is that you need to pay tax on every trade, even just Item for Item, that you hold for less than a year. Its a big issue that people arent aware of, at least speaking for Germany/EU

[@lemonhaze715]

How much % tax in Ger?

[@TheChosenOne_]

Really? But if I sell my cases that I held for over a year and buy with that money a knife and immediately sell somewhere else without it increasing in value why should I pay taxes if that didn’t make any profit?

[@eXartoREAL]

@@lemonhaze715 I Will Use Google Before Asking Dumb Questions

[@cwill2127]

@@eXartoREALor you could just answer

[@eXartoREAL]

@@TheChosenOne_ you exchange a digital asset or token, so you need to wait. look up Individual questions regarding the income tax treatment of virtual currencies and tokens for your country

[@RazzEuw]

but you still have the kato 2015 and atlanta 2017 stickers?

[@ptreeNA]

I still have most of my inventory but I sold some of my best items like the knife, gloves, m4a1 knight and a few collectables. Basically all the stickers are safe

[@Lubenstein1]

yes this helps alot, I've thought about selling my investments many times but doing the whole tax part has put me off and still is but good video.

[@ptreeNA]

look into the amount that qualifies for capital gains, in canada there's a certain amount annually that isn't taxed based on income

[@arektobiasz6857]

cool video something diffrent than pure csgo investing everybody seen

[@rigid9822]

Bruh you are underrated, just subscribed. I am currently in Toronto. Do you play with subs?

[@Aurinna]

Great video ptree!

[@Aurinna]

Also in regards to taxable events, make sure you consult with a CPA, not entirely sure with in regards to online earnings going towards your short/long term capital gains tax for annual income.

[@ptreeNA]

all taken care of I just didn't get deep into it, thank you

[@maxfedyna2504]

Congratulations!do you live in edm by any chance?

[@Twempest]

Congratulations!

[@ryuans7795]

my guy did it. next "i bought lambo with csgo skins"

[@ptreeNA]

I might make the s13 video when I get it shipped out for a tune but no lambo for this guy

[@moneyhoarder69]

I was always curious about how lottery taxes work. I'm also Canadian and I assumed you would need to pay taxes on something you unboxed in CS because its not from a legal casino/lottery.

[@ptreeNA]

so I didn't get any pushback from that but I guess I can't say the same for you, the big thing is recreational gambling and I want to say they don't care too much outside of that

[@realfake3783]

@@ptreeNA im confused how the sale of the item you won from gambling isint taxable and especially since you werent even selling the item for real cash but buff balance which wasnt a gamble win

[@Rgberezo]

loved this video. great insight

[@cwill2127]

**the IRS would like to know your location***

[@ptreeNA]

no IRS in Canada I'm free to do whatever I want 👌 (but not really 😢)

[@cwill2127]

@@ptreeNA yeah I just assumed you were American by the accent

[@Loagurt]

Holy GIGACHAD epic video

[@MatteoCix]

So... 20k for a house?

[@xxi7052]

Its a down payment

[@cwill2127]

Bro what Canada doesn’t tax gamba winnings?? Weird asl

[@ptreeNA]

there's some things to look out for but recreational gambling (depends on your negotiation skills) aren't taxed. It's a weird system and I guarantee people abuse it

[@Housri]

why didnt u just buy a bunch of tf2 keys and sell them ?

[@xuanshenzen]

tf2 keys is only good within 100k or below, if more, like this one, its very troublesome to use tf2 keys, using the skin itself is better

[@Housri]

@@xuanshenzen hmm i see i never went over 70k so fair

[@miroslavstoyanov4462]

thanks big bro

[@keeemzj]

great vid as always

[@Xhale.]

Thats so cool

[@ratiiir]

house

[@boxofficecardsph6807]

great vid

[@johnnymcaffery]

based

[@dipbeat1213]

W vid

[@dixfabello1941]

"promo sm" 😕

[@nikolajpetersen6298]

w video

[@Bituincs]

can i come ?