Quote:
Originally Posted by d-null
I have been claiming it as straight revenue. seeing this makes me wonder whether it might be better to claim as capital gains
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Aside from capital gains being around 10% cheaper than personal tax.
Also matters how the site was structured as a business. Did you keep it as a sole proprietor and partnership, or was it in the form of a corp. Since they are taxed with different terms in regard to capital gains.
PS since I actually do appreciate business topics on here (lolz aside).
When you sell a sole proprietorship you are supposed to attach form 8594, asset acquisition statement to your filings. (had to ask my father in law what it was, he also mentioned a lot more - until I just explained it was a general question and we were not selling one.)