I bought a website from an auction a few months ago for about 15k and have it successfully generating a decent amount of cash every month (about $800).
I just got my 1099 from Google for the Adsense revenue.
When I file my taxes, what should I file the 15k purchase cost as? Expenses? A deduction? I usually do my taxes myself (via on of the many software applications out there) but I'm a bit confused as to file for this.