Re: How to declare income from selling a website
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PA, it would seem that your cost basis should be more than simply the original cost to purchase the domain.
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It's my understanding from reading that if that is the correct way to file it then my basis would be zero because all of my expenses have been or will be written off on a schedule C. What would make the basis higher?
It seems just like when I tried to find a lawyer to help with the sales agreement there are few professionals that seem to be sure of the laws surrounding websites.
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