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    GoDaddy Report all Domain Sales the same to IRS?

    I heard a former employee Joe post that GoDaddy collects W-9's and reports all domain sales to IRS on everyone regardless of if they are simply selling a domain or are parking/reselling domains.

     

    I am wondering if someone who has direct first hand experience of this can verify and provide some kind of evidence?

     

    I worked in Tax and Accounting. Doesn't make sense.

     

    I am sick of people just disclaiming "Well, im not a tax professional but..." and then giving false and misleading information based on pure assumptions and their imagination. 

     

    Thanks!

    NR

    1 ACCEPTED SOLUTION
    Super User 2020

    If GoDaddy pays you money this is documented and reported to the IRS.  So for example if you sell a domain thru GoDaddy Auctions you would need a Payee account so you can get paid and that income can be reported.  Here is more information on Payee accounts. https://www.godaddy.com/help/change-my-payee-information-1369

    1 REPLY 1
    Super User 2020

    If GoDaddy pays you money this is documented and reported to the IRS.  So for example if you sell a domain thru GoDaddy Auctions you would need a Payee account so you can get paid and that income can be reported.  Here is more information on Payee accounts. https://www.godaddy.com/help/change-my-payee-information-1369