How do I report a $5,000 domain name purchase on my taxes?
I'm using TuboTax and everything else is working out great but this subject is quite confusing.
Donboy
6:48 pm on Mar 25, 2004 (gmt 0)
Depends on how you have setup yourself as a business. For a long time, I was declaring everything on Schedule C, so it was really just an extension of my own personal tax return. The problem you have is knowing what categories to put your expenses into. You really have to get a CPA to handle it for you the first time, and from there you can probably do it yourself in subsequent tax years by looking at the return that was created by your CPA.
