A fact that many don’t know. Selling a ticket through Ticketmaster type sites, if the amount of the sale hits a certain level of profit you will get a 1099 to file. The IRS wants their share of your profit above the printed ticket price.
It’s the same with eBay now this year. If you have over $600 in sales for the whole year you now have to report it to the IRS. No different than demanding a garage sale report their profits. I’ll leave it to the reader to decide how to feel about that.. lol.
Guaranteed because they officially announced it as such I think.
I'm not an accountant, but I believe profits on resale of goods has always been taxable above a certain level. The only thing that changed is the IRS requirement of the brokers to file the report. Ticket reselling has become a very large business, which puts it squarely in the crosshairs of the IRS.
What I don’t understand is how does eBay decide what the profit is. For instance, when I buy a baseball card in 2018 and sell it this year, how are they tracking what my profit actually is?
This is the biggest negative of the move to all mobile tickets.
I don't know. It may be up to the seller to keep the record of the purchase to determine the profit or pay tax on the full sale price.
We'll be expecting your visit to the Fine Mess, er, Syracruz Tail Gate!
Hoping for another sellout, but tolerating ND fans will require a lot of patience. They make Duke fans look humble.
It's not all Catholics, but specifically Irish Catholics. It has more to do with the Irishness than the Catholicness.
It’s a bit of both. Even as an Irish American, as a thorough going Protestant, ND is immediately off the table for me. I grew up RC and even went to a Catholic school. Everyone I knew liked ND.
Just keep your total tix sold to under $600. I've sold about $300 of tix through TM this year. I much prefer selling privately to friends.
I inquired at the Dome Box Office Saturday, prior to the game. They had $65.00 tickets in section 329.
I sold my NC State tixs through TM and received an e-mail asking me to provide seller details including my taxpayer id # before I can get paid. Is this legit? It seems like a silly step considering the transaction was done through the same account that they use for all of my ticket purchases.
Yes, IRS requirements...$600 limit
And no ticket stubs to save.
Didn’t the church get its start in Rome, not Dublin?
Thanks. I'm under the threshold though which is part of what's bugging me. I'll probably end up selling my FSU tickets too, so that may put me over if we win a couple of these next three.
I believe it's $600 for the year. So, just like an employer, they have to keep track of your annual figures.
BL: stay under $600
