Re: How to declare income from selling a website
Looks like you got the answer you needed. Sorry my uncle was busy with the extended deadline and wasn't able to get back to me until yesterday. For further clarification this is what he said.
"If it is an existing website and you are selling them the rights to use it and you are using it, then it is intellectual property making it a Section 1231 asset and subject to capital gain rates."
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