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Old 04-04-2008, 08:37 AM   · #59
DnPresident
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No sales to claim

Originally Posted by fatter
how did your accountant claim your sales if you had them, the IRS agents told me there are 2 ways to file them depending on the situation, either treat them as inventory in your schedule C, or treat them as long/short term capitol gain depending if its just an intermittent sale or not



fatter, No sales to claim.

I didn't actually start buying names until 2005 and my phone hasn't exactly rang off the hook with offers .. When I started buying names I just thought of it as at least a 5-10 year investment with no immediate plans of selling. Someone offered me 780Euros the other day for a .net which I accepted so that will go down as my very first sale.

By the way, they just called me and I got a credit towards this year, didn't owe anything accept to the preparer. I did a lot of worrying over nothing.

Either spend it on your company or pay it to the gov.


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