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Let's say I paid $3,000 for all the domains I purchased in 2018. And say I sold $4,000 worth of domain names. Do I need to set up an LLC, or can I just add the $1,000 to miscellaneous income on my tax form ? It would be easy to produce receipts for the $3,000 in purchases if asked but do you need to do it officially through an LLC ? Thanks !