taxes on selling a website ?

[s2kinteg916]

what kinda taxes are applicable when selling a website ?

[r2d2]

What country are you in, and is the website owned by you personally or by a business you own?

[s2kinteg916]

I am sorry for not including information

US and its a personal site......

[AndyH]

Capital gains maybe?

[Chris]

If its a business asset or investment held for over 1 year it'd be capital gains, but better check with an accountant.

[s2kinteg916]

so a website is considered a capital asset ? am i correct ?

[chrispian]

If it's not business and you sell it if you make profit on it you own taxes on the profit. Remember, they just said if your a business, you said it was personal. You really need to talk to an accountant to be sure though. But the IRS works like this. You make money, they take money. Period

[s2kinteg916]

wouldnt a personal site tha tmakes income be considered a business ?

[moonshield]

it probably is considred a hobby, it matters if you are operating under a business license.

[AndyH]

It will probably be classed as personal income and taxed at your own bracket rate.

[James]

It will probably be classed as personal income and taxed at your own bracket rate.

Yes, I believe this is correct. Though, I'm not sure, or an accountant.

[Chris]

Personal investments held for over 1 year are still capital gains.

[Todd W]

We can all speculate or you can contact someone who does this for a living in your area and they can give you a more definate answer than almost anyone here.