It Will work both ways. But the gasket on the wet side is more practical. You have water force aiding your seal instead of fighting it.
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I will agree with that, the gasket does also stand more of a chance of drying out also being mounted outside.
I mount them backwards for a few reasons.
They take up so much room outside the tank with the flange in the tank. If the tank is against a wall, by the time I get the elbows or plumbing installed the tank has to be like 8 inches away from the wall, possibly even farther if I want room to work back there in the future
I usually only buy slipxslip bulkheads since the threaded ones force you to use threaded fittings which have a smaller inner diameter than the regular slip ones. If I ever want to be able to service the plumbing the glued pvc needs to be on the outside with the flange/gasket, and the unglued pvc/strainer needs to be inside with the nut. To take it apart all I need to do is spin the nut off, take the strainer off and everything else is fine. I guess this really isn't a big deal if you're drilling a tank to your liking, but on a store bought reef ready tank I like to try to makr the most of the tiny 1" bulkheads
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