Selling website taxes? - GoFuckYourself.com

MCRiv · 04-25-2009, 11:05 AM

If you sell a website in the US what tax form do you use to report it?

baddog · 04-25-2009, 11:08 AM

Tax form? I have brokered many domains and programs and never ran across any special tax form.

Juicy D. Links · 04-25-2009, 11:11 AM

Quote:

Originally Posted by MCRiv

If you sell a website in the US what tax form do you use to report it?

Irs Form JDL-633789

Link below

http://www.irs.gov/forms/633/info

Barefootsies · 04-25-2009, 11:11 AM

Capital gains is what you are thinking.

MCRiv · 04-25-2009, 11:23 AM

Well do I have to fill out a form or not?

Juicy D. Links · 04-25-2009, 11:24 AM

Quote:

Originally Posted by MCRiv

Well do I have to fill out a form or not?

Yes fill out the form i mentioned above in triplicate

Yngwie · 04-25-2009, 11:25 AM

Quote:

Originally Posted by MCRiv

Well do I have to fill out a form or not?

Quote:

Originally Posted by Barefootsies

Capital gains is what you are thinking.

.............

Barefootsies · 04-25-2009, 11:26 AM

Quote:

Originally Posted by MCRiv

Well do I have to fill out a form or not?

Talk to your CPA/Accountant.

MCRiv · 04-25-2009, 11:31 AM

Quote:

Originally Posted by Juicy D. Links

Yes fill out the form i mentioned above in triplicate

I couldn't find that form you typed it wrong

Juicy D. Links · 04-25-2009, 11:58 AM

Quote:

Originally Posted by MCRiv

I couldn't find that form you typed it wrong

http://www.irs.gov/pub/irs-pdf/

Form #JD67L-50JDL

MCRiv · 04-25-2009, 02:16 PM

Quote:

Originally Posted by Juicy D. Links

http://www.irs.gov/pub/irs-pdf/

Form #JD67L-50JDL

What's wrong with you?

PXN · 04-25-2009, 04:35 PM

LOL, this is funny.

SBJ · 04-25-2009, 04:57 PM

Quote:

Originally Posted by MCRiv

I couldn't find that form you typed it wrong

reboot your computer, clear your cache and try juicy's link again

Juicy D. Links · 04-25-2009, 04:59 PM

Quote:

Originally Posted by MCRiv

What's wrong with you?

???? form is there

baddog · 04-25-2009, 05:41 PM

Quote:

Originally Posted by Juicy D. Links

???? form is there

Works here.

nosey · 04-25-2009, 05:58 PM

Quote:

Originally Posted by Juicy D. Links

Irs Form JDL-633789

Link below

http://www.irs.gov/forms/633/info

sweeet

d-null · 04-25-2009, 06:03 PM

I have been claiming it as straight revenue. seeing this makes me wonder whether it might be better to claim as capital gains

After Shock Media · 04-25-2009, 06:19 PM

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

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.)

PornMD · 04-25-2009, 09:28 PM

For capital gains, it would have had to be owned for over a year before being sold, right? Or is there a short-term capital gains that works with website sales? Presumably if you buy websites with the intent of reselling them for profit and most of your sales occur inside a year, they'd be considered inventory and not investments, right?

LiveDose · 04-25-2009, 09:37 PM

Some interesting responses in this thread. Food for thought.

CyberHustler · 04-25-2009, 09:47 PM

Quote:

Originally Posted by MCRiv

I couldn't find that form you typed it wrong

d-null · 04-25-2009, 09:54 PM

Quote:

Originally Posted by PornMD

For capital gains, it would have had to be owned for over a year before being sold, right? Or is there a short-term capital gains that works with website sales? Presumably if you buy websites with the intent of reselling them for profit and most of your sales occur inside a year, they'd be considered inventory and not investments, right?

I'm still not sure about it

it doesn't seem to make sense to me that if I buy a domain for $10 and build a site on it and sell it for $1000 6 months later that it would count as a capital gain....... that doesn't seem right to me. need some tax acct. advice

Barefootsies · 04-25-2009, 09:57 PM

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

Capital gains you pay less in tax.

Only should claim under normal income if you are trying to pump up your annual income to buy a house, investment, whatever. So you look like you have more money, and pay more taxes accordingly.

Barefootsies · 04-25-2009, 09:58 PM

Quote:

Originally Posted by PornMD

For capital gains, it would have had to be owned for over a year before being sold, right? Or is there a short-term capital gains that works with website sales? Presumably if you buy websites with the intent of reselling them for profit and most of your sales occur inside a year, they'd be considered inventory and not investments, right?

That part I am not sure of, and you would want to talk to an accountant.

Most of the things I claim as capital gains I have owned more than a year, so I had never thought about it.

Matyko · 04-25-2009, 11:13 PM

Quote:

Originally Posted by juicy d. Links

irs form jdl-633789

link below

http://www.irs.gov/forms/633/info

:ddddddddddddddddddddddddd

04-25-2009, 11:05 AM	#1
MCRiv Confirmed User Join Date: Jun 2007 Posts: 343	Selling website taxes? If you sell a website in the US what tax form do you use to report it?

04-25-2009, 11:11 AM	#4
Barefootsies Choice is an Illusion Industry Role: Join Date: Feb 2005 Location: Land of Obama Posts: 42,635	Capital gains is what you are thinking. __________________ Should You Email Your Members? Link1 \| Link2 \| Link3 Enough Said. "Would you rather live like a king for a year or like a prince forever?"

04-25-2009, 06:03 PM	#17
d-null . . . Industry Role: Join Date: Apr 2007 Location: NY Posts: 13,724	I have been claiming it as straight revenue. seeing this makes me wonder whether it might be better to claim as capital gains __________________ __________________ Looking for a custom TUBE SCRIPT that supports massive traffic, load balancing, billing support, and h264 encoding? Hit up Konrad! Looking for designs for your websites or custom tubesite design? Hit up Zuzana Designs Check out the #1 WordPress SEO Plugin: CyberSEO Suite

04-25-2009, 09:28 PM	#19
PornMD Mainstream Businessman Industry Role: Join Date: Jan 2007 Location: San Diego Posts: 9,291	For capital gains, it would have had to be owned for over a year before being sold, right? Or is there a short-term capital gains that works with website sales? Presumably if you buy websites with the intent of reselling them for profit and most of your sales occur inside a year, they'd be considered inventory and not investments, right? __________________ Want to crush it in mainstream with Facebook ads? Hit me up.

04-25-2009, 09:37 PM	#20
LiveDose Show Yer Tits! Industry Role: Join Date: Feb 2002 Location: Somewhere Out there... Posts: 25,792	Some interesting responses in this thread. Food for thought. __________________ Scammer Alert: acer19 acer [email protected] [email protected] Money stolen using PayPal

04-25-2009, 11:08 AM	#2
baddog So Fucking Banned Industry Role: Join Date: Apr 2001 Location: the beach, SoCal Posts: 107,090	Tax form? I have brokered many domains and programs and never ran across any special tax form.

04-25-2009, 11:23 AM	#5
MCRiv Confirmed User Join Date: Jun 2007 Posts: 343	Well do I have to fill out a form or not?

04-25-2009, 04:35 PM	#12
PXN Confirmed User Join Date: Jun 2008 Posts: 1,548	LOL, this is funny.