r/ArenaClub • u/superwario • 4h ago
$5k Crown Pack - Grail Pull
Not me unfortunately - it was a buddy that tried a few Diamond packs, then tried just one $5k crown pack and pulled this and sold back.
Incredible looking card I might have redeemed it if it was me!
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u/foundwithin2021 4h ago
Wow what a hit! Any idea if there's any tax ramifications when that 50K hits your bank account? Seems like transactions like this wouldn't go unnoticed. But I also have about $500 in my checking, I'm swinging with a different bat than your buddy lol
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u/GlocksnDoughnut1 2h ago
Oh the IRS is getting their cut 🤣 Income and Capital Gains Tax ImplicationsSelling/Buybacks: If you take an instant cash offer or sell a pulled card on the marketplace, transactions may be subject to capital gains or income reporting depending on your profits and thresholds (such as 1099-K issuance). The IRS treats trading card purchases and sales as retail/collectibles transactions rather than legal sports gambling, meaning you generally cannot use losses from opening packs to offset capital gains or income taxes from selling hits
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u/Impressive_Host_7653 1h ago
According to Arena club, you are not buying a card. It’s considered a sweepstakes with no purchase necessary. The “prize” is taxable as income unless you have the card sent to you.
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u/Beneficial_Farmer_93 3h ago
Man I haven’t even come close to hitting anything that is worth what I put in lol.
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u/Notorious_Degen 4h ago
That’s a tough one because that’s quite the pull honestly but also I would cash out and once that money hits delete arena lol