Download Your 1099-k Ticketmaster
Vanesa Domagala
The IRS and some U.S. state tax authorities may require Ticketmaster to report the amounts your fans earn from selling or reselling tickets on any of our U.S. marketplaces. Ticketmaster is required to file a Form 1099-K report with the IRS when the gross revenue received from transactions on our U.S. marketplaces meets or exceeds $600 in a calendar year per seller.
Once you login and submit your taxpayer information on our secure Seller Tax Details page, Ticketmaster will submit your information to the IRS for verification. To avoid issues with processing, please ensure that the name you provide in the form matches the name that you use for tax purposes, and that all fields are entered accurately. Ticketmaster will never ask you to provide this information over the phone or in an email. Once verified, Ticketmaster will send you a confirmation via email.
For any tax year in which a Form 1099-K is required, Ticketmaster will typically provide a copy of the form by January 31 of the following year. If your annual gross transactional amount does not exceed the federal or state reporting thresholds, you will not receive a Form 1099-K for that tax year. If you have any questions about tax reporting or filing, please consult your tax adviser. Learn more about the Form 1099-K.
To comply with federal and state withholding requirements, we are required to collect taxpayer information starting with your first completed sale. If the annual gross transactional amount of your sales does not exceed federal or state reporting thresholds, you will not receive a Form 1099-K from Ticketmaster. Learn more about the Form 1099-K.
If you are not a U.S. citizen or resident, you may not be subject to reporting or withholding requirements. However, Ticketmaster is required to verify your non-U.S. status to comply with IRS regulations. To avoid delays with processing your payout, please make sure that all fields are entered accurately. As a reminder, Ticketmaster will never ask you to provide this information directly over the phone or via email. Learn more about the Form 1099-K.
Been trying to work through this bullshit all day with them. They included the buyers commission in the sellers invoice and reported that total on my 1099-k...I'm assuming they did it for everyone (not sure if they did this last year as well because I didn't receive one from them). If anyone cares let me know and I'll update this as I work through it.
So, I have season tickets to a popular sporting team, and, we are now allowed to sell them for a profit on ticketmaster. So, for argument's sake - I paid 4k for my tickets, and, I was paid out a net total of 11k USD. I figured, hey, I'll end up taxed on 7k profit - no big deal. Anyways, I got my 1099-k from ticketmaster and I was floored when box 1a reported nearly 14k! I called them up and they said this included the total gross sales, and not the net payout received. For instance, if I list a pair of tickets for 1000$ - they take 10% off the top, plus the charge to buyer a bunch of fees. I, myself, only receive 900$. They sent me a spreadsheet with the fees they took from me, as well as the fees they charged the buyer of my tickets. I am assuming I don't actually have to pay taxes on the 3k I didn't receive, and there's a way to notate (perhaps schedule C?) that I indeed:
Yes, your assumptions are correct. Below are the instructions for entering a sale of personal assets for a profit. You would either reduce the proceeds by the amount of fees paid or increase the basis by the amount of fees paid.
You can enter the 1099-K as Self Employment income. You would enter the total amount and then on the expense side of your Schedule C you would put the original price of the tickets and also the amount of the commission. This should result in the actual amount that you received.
Yes, you are correct. This was a sale of personal items at a loss so it is not reportable. However, if you are getting a 1099-K, you should it along with records to show your loss since you the 1099-K is also reported to the IRS.
Resale profits are paid out 5-7 business days from the date of the resale transaction to your selected payout method. Tickets are not guaranteed to resell. For the best opportunity to resell your tickets, we recommend posting early and reviewing the current market rates to determine your posting price.
If you resell tickets, you will receive a notice from Ticketmaster to complete a Form 1099-K. This is required by the IRS and must be completed in order to receive your resale profits. Resale profits are typically paid out within 5-7 business days after the sale, as long as the 1099-K form is completed.
If you can't make a game, consider donating your tickets to VetTix! Vet Tix provides tickets to all branches of currently-serving Military and Veterans, including immediate family of troops KIA. Ticket donations can be made through Seahawks Account Manager up until 48 hours prior to kickoff.
Visit Ticketmaster's Seller Tax Details Form and sign in using your Ticketmaster account information. Once logged in you will be able to enter information like your legal name, citizenship status, Tax Identification Number and address.
The gain on the sale of a personal item is taxable. You must report the transaction (gain on sale) on Form 8949, Sales and Other Dispositions of Capital AssetsPDF, and Form 1040, U.S. Individual Income Tax Return, Schedule D, Capital Gains and LossesPDF. See Publication 551, Basis of AssetsPDF, for guidance in determining your basis.
A. Generally, if you hold a personal item for more than one year before you sell it, your capital gain is long-term. If you hold it one year or less before you sell it, your capital gain is short-term. For additional guidance, see Publication 544, Sales and Other Dispositions of AssetsPDF.
A. You should include all fees (e.g., selling fees, payment processing fees, etc.) associated with the sale of your personal items in your basis when computing your gain or loss on the sale. See Publication 551 for additional information. In general, you should adjust your gain or loss on the sale of your property by the amount of expenses and fees paid to facilitate the sale. If you realize a gain on the sale of your property, report the selling expenses as a downward adjustment to the gain that you report on Form 8949 or Schedule D.
Box 1a of the Form 1099-KPDF reports the gross amount of payment card/third party network transactions. This amount is not adjusted to account for fees, refunds, chargebacks, or other costs included in the unadjusted dollar amount of the payment transactions. If the Form 1099-K reports the total unadjusted dollar amount of the payment transactions and you separately paid selling expenses, you may need to make a separate adjustment to the resulting gain or loss. You should maintain and consult your own records to determine these amounts.
A. Generally, you should keep accurate records for personal items you may sell. If your records are lost, destroyed, or are not available due to circumstances beyond your control and your return is audited, examiners may allow you to present reconstructed records. Additionally, examiners may accept oral testimony when records do not exist.
In this example you have a nondeductible personal loss. $800 sales price - $3,000 purchase price = ($2,200) loss amount. You can offset the proceeds reported on the Form 1099-K using some of your purchase price as shown here:
If you re-sold tickets on the exchange and the total gross amount of the transaction was $600 or more, you will receive a 1099-K from the platform. Whether or not you need to report this transaction as income on your personal tax return will depend on whether or not you profited from the sale, regardless of the fees the platform applied.
The answer is no, the ticket exchange platform is required to report the gross transaction regardless of the fees they applied or the net earnings. The amount that you are required to report to the IRS on your personal income tax return, will depend on how this is broken down.
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Yes, according to the IRS your gain on a ticket resale is taxable if you held it for personal rather than business use. The gain is generally treated as a short-term capital gain and taxed at ordinary federal income tax rates if you held the tickets for less than a year, and is treated as a long-term capital gain taxed at preferential (i.e., lower) rates if you held the tickets for longer than a year.
That depends on a number of factors, including but not limited to: 1) the price you originally paid for the resold ticket, including fees and taxes; 2) the payment you received for reselling the ticket, after fees taken out by the resale website (i.e., StubHub, Ticketmaster); 3) how long you held on to the tickets in between purchase and sale; and 4) your taxable income for the year in which you resold the tickets.
In many cases, yes. In many cases, you will also receive information from the online platform (e.g., StubHub or Ticketmaster) about your gross payments received on that platform within a particular state, similar to the 1099-K. Thresholds for information reporting vary state by state, as do rules for what governs taxable income. Consult with your state tax agency, tax professional, or tax filing software provider.
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