Capital Gains Tax Domain Name Sale. I hope you made a lot of money from the sale of your website. Read on to learn about capital gains tax for primary residences second homes investment properties.
I consider it part of my collectible business DBA that includes other collectibles such as silver coins vehicles etc. Conversely the sale or trade of a non-capital asset is taxed at the ordinary gain or loss tax rate. Because sale of a domain name would be considered a sale of digital automated services it would be subject to sales or use tax.
Conversely the sale or trade of a non-capital asset is taxed at the ordinary gain or loss tax rate.
50000 - 20000 30000 long-term capital gains. Short-term capital gains happen when you sell an investment property you held for one year or less. Because sale of a domain name would be considered a sale of digital automated services it would be subject to sales or use tax. When you sell your primary residence 250000 of capital gains or 500000 for a couple are exempted from capital gains taxation.