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   Selling my Software Ownership
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   Author  Topic: Selling my Software Ownership  (Read 803 times)
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Selling my Software Ownership
« on: Oct 9th, 2007, 8:58am »
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I'm selling my copyrights, ownership, source code etc of a software I developed to my reseller. I would like to know if this can be considered as capital gains or is there some other way to minimize my tax liability and not be considered ordinary income.
 
I never had a cost basis for this software and all expenses were straight deductions (E.g. salaries, computers, rent, etc)
 
What is the best way to claim this transaction for tax purposes for a Sub S Corp?
 
Thanks
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