GeorgeM777
Expert Alumni

Get your taxes done using TurboTax

Yes, you can include the cost of the insurance when determining the cost basis of the tickets.  You are responsible for reporting the gain as the tickets were owned by you and you received the proceeds from the sale.  If you had paid your friends a commission because they helped you facilitate the sale, then you can deduct the amount of that commission from the sale proceeds when determining your gain. 

 

@AMcGee2122 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"