IF you are in the business of buying and selling tickets, you are self-employed and report your income and expenses on Schedule C. If you are not self-employed, the income is reported as a capital gain. To report Self-Employment income and expenses on Schedule C, use these instructions in TurboTax.
Generally, you are self-employed if any of the following apply to you.
- You carry on a trade or business as a sole proprietor or an independent contractor.
- You are a member of a partnership that carries on a trade or business.
- You are otherwise in business for yourself (including a part-time business)
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If this is not your business or trade, then it's reported as Miscellaneous Income. What you received for the tickets is 100% taxable income. What you paid for the tickets is "NOT" deductible from that income.