Ask HN: Tax implications of selling a website?
I recently sold a website of mine for $90,000 through Flippa. I am a single member LLC (not taxed as a corporation) and the agreement, and payment, were between the buyer and the LLC.
Will this be taxed as ordinary income, or a capital gain?
In previous years, revenue from the site and expenses associated with running it have been reported as part of the gross sales and ordinary expenses of the business. I held this website and domain for more than one year.