Comments on: If You Sell A Domain Name You Have Owned For 13 Years Do You Pay Capital Gains Taxes On Thoses Monies?

By: USM Sailor

USM Sailor — Mon, 06 Jul 2009 02:06:57 +0000

I recommend http://www.irs.gov or visiting your local irs office for help. You should be able to complete sched d, capital gains and losses yourself.

By: William H

William H — Sun, 05 Jul 2009 19:13:34 +0000

Are you considering buying another domain name? If so, look into performing a 1031 tax deferred exchange.
Yes, you would pay capital gains tax upon a sale.

By: Judy

Judy — Sun, 05 Jul 2009 13:33:17 +0000

Yes it would be taxable income.
If the CGT year 2008 holds, then you’d be exempt from paying any tax. But don’t count on it not being changed. But it’s so close to 2008 now, you might as well wait until January to finish the deal – you don’t have anything to lose as long as the customer will wait a couple weeks, and with a little luck you could end up being free from paying tax on the gain. I don’t know how much money you’re talking for a gain, but that amount will figure in to determining if you are in the 15% bracket or lower.

By: v b

v b — Sun, 05 Jul 2009 07:39:01 +0000

It’s an asset, so yes, any gain is capital gain.
Yes, it’s possible that if your taxable income is small enough, some of the gain will be taxed at 0% in 2008.