Based on those links, I would think this should be classified as a business.
- the sole purpose of buying the additional tickets was to sell them at profit
- records are being kept
- additional tickets have been purchased solely for the intent of selling
- profits have been made in the past
what's more, there's no logical sense to calling this a hobby. When one buys collectibles (i.e. baseball cards), there is a value to collecting and owning the cards which is what we call a hobby. There is no extra value in holding these tickets to be sold other than profit.
So if it gets counted as a business, then any thoughts on the cost-basis question?
