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New Member
posted Mar 4, 2020 1:21:45 PM

Is selling season tickets a form of self-employment income? A tax expert told me it was, and I'm trying to enter the cash receipts and cost of the tickets in Schedule C.

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3 Replies
Expert Alumni
Mar 5, 2020 11:52:30 AM

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.

Level 15
Mar 5, 2020 12:01:46 PM

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.

 

Level 15
Mar 5, 2020 12:36:17 PM

"I'm trying to enter the cash receipts and cost of the tickets in Schedule C."

 

If you are not in the business of ticket sales, then entering the proceeds on Schedule C is the wrong approach.

 

Rather, you are selling a capital asset in which you have basis. As a result, the transactions should be reported on Form 8949 (which flows to Schedule D).