I am a season ticket holder for a sports team. I sell some of these tickets online through Ticketmaster. This year I received notice that I will get a 1099-K form if I exceed $600 in sales. My understanding is that this $600 limit is based on the gross amount of the sales and does not consider fees paid to the website for selling tickets. I have not sold the tickets at a profit, but I will exceed the $600 limit. My question is- how do I account for my original costs and fees paid for selling the tickets when filing my taxes? Do I have to show this as $600 in profit, when this year it will actually be a loss? Thank you.
