rjs
Level 15
Level 15

Get your taxes done using TurboTax

@amykissangel 

 

The Form 1099-K from Ticketmaster does not show "gain." It shows the gross amount that you received. You will enter the $2,790 that you received and the cost of $960. You will pay tax on the $1,830 actual gain or profit.


You don't send proof of the cost with your tax return, but you have to be able to show it if the IRS questions the cost that you reported. So keep the records of your ticket purchases for at least 3 years in case the IRS asks for it.