Do you pay taxes for your domain sales?

[atinc]

When you have an inbound sale, do you pay tax for it?

I don't expect you to comment particularly about your case..

but I am asking you to participate the poll where the results comes anonymously.

Are there any discouraging penalties about this in your country?

Let's see the results..

 

[kam]

Hooray for Hong Kong!

Shame the average house price is US$1.28m

Many Hong Kong residents spent around US$1m to purchase a small flat in an apartment only. Not a big house

 

[topdom]

What if you don't make profit?
Or do you get tax return because of renewals?

 

[topdom]

If prices are so high in HongKong, why is .hk not doing well?

 

[Culminant Domain]

Yes.

Brad

Hi Brad. I wrote the following on an older thread that might not ever receive an answer. Could you clarify this for me?

I went to my accountant today. All good until I brought up my income from selling (3) domains in 2021. All registered in 2021. I registered another roughly 300 domains all this year. My domain reg purchase total was around $3200. My total expenses (iPad purchase for logos), BB, Flippa GD fees) were about $4500. My income was 2900. My question is this: Since my goal is to sell as many domains as possible, as fast as possible, would I use Schedule C? And if so, would at least the 3200 in reg fees less the income (sales) be my taxable income? Could I "write off" the iPad and other small platform fees/costs? I want to get this foundation right for coming years and continued "success." For now my return is on hold until the correct decision is learned. Accountant's first time with a domain side hustler. Thank you.