Anonymous

Does SSI have any rules about video game currency? ?

If I buy money in a video game to buy items in the game. Does the gold in the game count as a resource in real life? Or is it like buying the video game itself? 

Update:

What about the resources on the game? Like if buying game currency counts as a resource, would buying items in the game count? Like if I buy a car or house in the game? 

Update 2:

Okay I was told earlier that bitcoin and other internet based currencies count so you never know. Even at just 50 a month, that's 600 a year, so in a few years you could easily reach over 2000 dollars. 

Update 3:

For those wondering how there is extra money. well if rent is only 200 a month, utilities about 50 to 100.

food is 100 a month, and... well that's about it as far as expenses go and they said after expenses you can spend it on whatever. So sometimes out to eat food. so maybe 200 sometimes 300 for food if I eat as much as I want. So 300 food + 200 rent + 100 utilities = 600 means I'm left with over 100 a month at the end. They said I can't save past 2000 so I gotta find something to spend it on.

Update 4:

Thought about maybe buying collectors items like magazines or trading cards. But who knows, that might be considered an asset since they're worth something. I've got some pokemon cards worth more than 20 dollars per card. same with yugioh and magic. one worth like almost 100 bucks but idk. i dont want to get cut off and have to sell my pokemon cards because its an asset. unfortunately im in my late 30s so an ABLE account wont work. I lost my legs after the ABLE cut off date. 

6 Answers

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  • Anonymous
    2 months ago

    Some in-game currencies can be counted as assets if pegged to real world currencies.  The Linden Dollar (L$) used in Second Life has a direct exchange of 1 US Dollar to about 260 L$ and they can be exchanged back and forth directly.  If you make thousands or even millions of $L in the game (as many people have), you get socked for taxes the second you convert them to real world dollars.  Linden Lab, the creators of Second Life, keeps track of who makes what so they can report suspected money laundering and tax evasion to the authorities.

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  • 2 months ago

    No, play currency does not count as an asset.

    Do not listen to the people on here being negative, if all your needs are met do what you please with the rest.

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  • 2 months ago

    That would be a misappropriation of tax payer funds IMHO. With that said, I'm not sure how you would qualify that as an asset. Technically, I guess it would be considered an asset, but I don't know how you would claim it as an asset. 

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    • !Rhubarb!
      Lv 4
      1 month agoReport

      @fodaddy it is moot for me because I NEVER have leftover money after meeting my needs, the only recreational spending I do is a basic Netflix subscription and I may have to drop that soon. It is a moot point for you because taxes is just a part of life. 

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  • 2 months ago

    if your only disability is leg amputation, there is NO REASON YOU CAN'T WORK....and if you were that old, why were you not vested in SSDI?  what were you doing that you don't have SSDI work credits?

    get in touch with other amputees and see what they can do.  would you like to compete in sports?  there are competitive sports programs,

    just why can't you sit at a counter and do something like cell phone sales or bank teller?  can you use prosthetic legs or some how transfer into a counter height stool?  the cashiers at aldi sit.  they normally want you to be able to switch off and do other jobs, but should be able to accommodate you.  with training, there are many jobs you can do if your only issue is you lost your legs.

    yes, collectors items count as an asset, you can only have a limited amount.

    if you add up ALL house expenses and divide by the number of people, does it really only equal 200 rent/100 utilities?

    if your expenses are that low, you are illegally collecting the full SSI payment.  To be eligible for the full payment you need to be paying a fair share of bills....no way food is only $100 unless you are starving yourself.  what about clothing, transportation, phone, detergent, tooth paste, etc...sounds like you are getting a lot of in kind support from family...that means that legally your SSI is supposed to be reduced by 1/3rd...you should only be getting 522/month.

    are you really paying your full share of gas/electric/tv/interent?  any other bills (ie heat for a house, water, sewer)?  how many people in the home?

    that would not be a resource, it is just like buying a game.  but if you are spending so much on games that you are concerned, SSA should assign you a payee or a new payee.

    You can have $2000 in actual resources.  If you are spending more than $50/month on recreation, that is concerning.  Even that is a lot when you are on SSI.

    In the past 2 and a half years, I have spent a TOTAL of about $100 on recreations.  I bought 1 computer game, went to a Dave and Busters for an hour, and spent $10 on something else. 

    I mostly use older games that I have had for over 10 years or do other things for free...like free magazines I can download from my local library.

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  • martin
    Lv 7
    2 months ago

    You should not count such tenuous game currency toward your total assets to qualify or disqualify for SSI's asset limit.

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  • susan
    Lv 7
    2 months ago

    I'm no expert on SS, but I feel confident in my guess that the in-game assets don't count toward the limits of how much $ you are allowed to have without it affecting your benefits.

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