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#6
02-21-2005, 09:01 AM
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 Re: Sold domain, got a 1099-misc - not capital gain? David Woods, EA, ChFC, CLU wrote: - quote - > "D. Stussy" <kd6lvw[at]bde-arc.ampr.org> wrote:
The Internet name registry it is taken out with.> > Dan Lanciani wrote: > > > bwooster47[at]gmail.com writes: > > > > I sold a domain, and I assumed I could file this under long > > > > term capital gains, but I just received a 1099-misc from the > > > > buyer. > > > Which box on the 1099misc did they use to report the sale? > > A domain name is not a[n intangible] capital asset. > > It is a LEASE. > If that is the case, who is the lessor? << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#5
02-15-2005, 07:25 AM
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| Re: Sold domain, got a 1099-misc - not capital gain? "D. Stussy" <kd6lvw[at]bde-arc.ampr.org> wrote: - quote - > Dan Lanciani wrote:
If that is the case, who is the lessor?> > bwooster47[at]gmail.com writes: > > > I sold a domain, and I assumed I could file this under long > > > term capital gains, but I just received a 1099-misc from the > > > buyer. > > Which box on the 1099misc did they use to report the sale? > A domain name is not a[n intangible] capital asset. > It is a LEASE. -- David M. Woods, EA, ChFC, CLU Woods Financial Services Norwood, MA 02062 www.woods-financial.com << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#4
02-15-2005, 07:25 AM
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| Re: Sold domain, got a 1099-misc - not capital gain? "bwooster47[at]gmail.com" <bwooster47[at]gmail.com> wrote: - quote - > bwooste...[at]gmail.com writes:
Which makes no sense because you weren't compensated, you> > > I sold a domain, and I assumed I could file this under long > > > term capital gains, but I just received a 1099-misc from the > > > buyer. > > Which box on the 1099misc did they use to report the sale? > They used Box 7 - non-employee compensation to report the > amount of the sale. sold property. Intangible property, but property nonetheless. -- David M. Woods, EA, ChFC, CLU Woods Financial Services Norwood, MA 02062 www.woods-financial.com << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#3
02-14-2005, 12:09 AM
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| Re: Sold domain, got a 1099-misc - not capital gain? Dan Lanciani wrote: - quote - > bwooster47[at]gmail.com writes:
A domain name is not a[n intangible] capital asset.> > I sold a domain, and I assumed I could file this under long > > term capital gains, but I just received a 1099-misc from the > > buyer. > Which box on the 1099misc did they use to report the sale? It is a LEASE. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#2
02-13-2005, 11:12 PM
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| Re: Sold domain, got a 1099-misc - not capital gain? bwooste...[at]gmail.com writes: - quote - > > I sold a domain, and I assumed I could file this under long
They used Box 7 - non-employee compensation to report the> > term capital gains, but I just received a 1099-misc from the > > buyer. > Which box on the 1099misc did they use to report the sale? amount of the sale. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#1
02-10-2005, 04:54 AM
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| Re: Sold domain, got a 1099-misc - not capital gain? bwooster47[at]gmail.com writes: - quote - > I sold a domain, and I assumed I could file this under long
Which box on the 1099misc did they use to report the sale?> term capital gains, but I just received a 1099-misc from the > buyer. Dan Lanciani ddl[at]danlan.*com << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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02-09-2005, 02:58 AM
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| Re: Sold domain, got a 1099-misc - not capital gain? "bwooster47[at]gmail.com" <bwooster47[at]gmail.com> wrote: - quote - > I sold a domain, and I assumed I could file this under long
The buyer doesn't know that. I'd put the amount on Line 21> term capital gains, but I just received a 1099-misc from the > buyer. > This now has me puzzled - does this imply I can't list my > sale as a capital gain, but need to include this in my > income? That has major federal and state tax impact for me, > and I can't imagine a sale of capital asset should be listed > under income just because the buyer sent me a 1099-misc! Any > thoughts appreciated. of Form 1040, and then back it out with a description such as "less proceeds reported on Schedule D (or Form 4797 if it is deemed to be a non-capital business asset)." In the latter case it should be eligible for Section 1231 treatment except for any depreciation or amortization recapture. -- Tom Healy, CPA Boulder, CO Web: http://www.tomhealycpa.com << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
02-07-2005, 05:57 PM
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| Sold domain, got a 1099-misc - not capital gain? I sold a domain, and I assumed I could file this under long term capital gains, but I just received a 1099-misc from the buyer. This now has me puzzled - does this imply I can't list my sale as a capital gain, but need to include this in my income? That has major federal and state tax impact for me, and I can't imagine a sale of capital asset should be listed under income just because the buyer sent me a 1099-misc! Any thoughts appreciated. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| 1099misc, capital, domain, gain, sold |
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