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Website Purchase, Adsense and 1099
Relinq




msg:3840430
 4:50 pm on Feb 2, 2009 (gmt 0)

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.

Thanks for any help.

 

Erku




msg:3840465
 5:24 pm on Feb 2, 2009 (gmt 0)

Why don't you call IRS and ask?

purplekitty




msg:3840497
 6:00 pm on Feb 2, 2009 (gmt 0)

I'm not sure why your question is in the adsense section since the purchase of your website has nothing to do with adsense.

But to answer the question, you'd have to amortize the $15k startup cost. See chapter 8 of IRS pub 535 for more information.

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