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Get your taxes done using TurboTax
You can delete the Form 1099-K and start again. Consider which choice applies as to the type of income the 1099-K represents. Concert tickets are considered personal-use items unless you are in the business of selling tickets for profit.
Losses from the sale of personal–use property, such as your home or car, or concert tickets, are not deductible.
From IRS Publication 544, Sales and Other Dispositions of Assets:
Personal-use property.
Generally, property held for personal use is a capital asset. Gain from a sale or exchange of that property is a capital gain. Loss from the sale or exchange of that property is not deductible.
Please see this thread for a discussion of a way to adjust the amount of a 1099-K to back out the amount of the income representing the basis from the sale of a personal item.
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