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Domain Names + Taxes

Labeled as question in General Domain Discussion, started by william, Sep 14, 2021

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  1. william

    william Established Member ★★★★★★★★★★

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    Hello,

    Is anyone here familiar with taxes in regards to domain names? Specifically in the United States. I think I've been treating sales in a very costly way (tax wise), so I had a few questions about some tax strategies. If anyone is knowledgeable or can recommend someone who is, I'd really appreciate a few minutes of your time.

    Some questions that I had were:

    1) Can you sell domain names as a long-term capital gain if you held them for more than one year? Instead of reporting it as regular income and paying higher taxes. If so, what do you need to prove that this was a long-term capital asset?

    2) I have an LLC, how can I use it to my advantage when it comes to domain names and taxes?

    Thanks!

    William
     
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  2. jhm

    jhm Glazed

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    Last edited: Sep 17, 2021

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