capital gains

[lemonyelow1]

US/IRS only (well, preferred!)

If a website is sold for a profit, is such profit reported as Capital Gains?

Please, no guesswork -- I'd be willing to pay for "professional" advice, particularly since I'll need legal support in connection with the sale.

Thanks.

-Peter

[Chris]

You should talk to an accountant to be sure, I think it may depend on what your prior use of the website was.