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#2
01-14-2004, 08:31 AM
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 Re: Domain Name "3D Peruna" <w!h#a$r%o^l&d[at]w!e#i$r%d&n*e.s.com (s)> wrote: - quote - > I purchased a domain name for more than just the
Amazing that two people would want the domain name:> registration fee (somebody else owned it, I bought it). Is > this an expense or an asset? Is it something that can > depreciate? Does the IRS have a clue how to deal with it? > What about the domain names that are registered at > $7.99/year, but somebody has offered $15,000 for it? w!h#a$r%o^l&d[at]w!e#i$r%d&n*e.s.com :-) -- Vic Roberts << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#1
01-14-2004, 07:34 AM
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| Re: Domain Name 3D Peruna wrote: - quote - > I purchased a domain name for more than just the
Outside my area of expertise, but here's two articles on the> registration fee (somebody else owned it, I bought it). Is > this an expense or an asset? Is it something that can > depreciate? Does the IRS have a clue how to deal with it? > What about the domain names that are registered at > $7.99/year, but somebody has offered $15,000 for it? subject. The first one is authored by Annette Nellen, JD, CPA and Professor at San Jose State University specializing in ecommerce taxation. It's an outline of a presentation she gave to the ABA Tax Section in Jan. 2001. See pages 14 and 15 on Transfer of a Domain Name: http://www.cob.sjsu.edu/facstaff/nel...mmerce1-01.pdf The second article is from a Dec. 2000 CCH E-Commerce Tax Alert: http://tax.cchgroup.com/ecom/archive/2000/1200/200.htm -- Alan http://taxtopics.net << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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01-14-2004, 07:34 AM
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| Re: Domain Name "3D Peruna" <w!h#a$r%o^l&d[at]w!e#i$r%d&n*e.s.com (s)> wrote - quote - > I purchased a domain name for more than just the
It's an asset.> registration fee (somebody else owned it, I bought it). Is > this an expense or an asset? - quote - > Is it something that can depreciate?
It's an intangible asset (you can't see it or hold it), soit gets amortized (similar to depreciation) - quote - > Does the IRS have a clue how to deal with it?
I'm sure they do.- quote - > What about the domain names that are registered at
The $7.99 a year is an expense, and if/when the sale is made> $7.99/year, but somebody has offered $15,000 for it? they have $0 cost basis and a capital gain of $15,000 (assuming the check doesn't bounce). -- Snowmen fall from heaven unassembled. ------------- Paul A. Thomas, CPA taxman at negia.net << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
01-13-2004, 05:25 PM
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| Domain Name I purchased a domain name for more than just the registration fee (somebody else owned it, I bought it). Is this an expense or an asset? Is it something that can depreciate? Does the IRS have a clue how to deal with it? What about the domain names that are registered at $7.99/year, but somebody has offered $15,000 for it? Thanks... << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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