@Deb727 wrote:
Thank you due the response. Season ticket holders have to pay for their tickets at the beginning of the season so where would you claim the monies paid? Abs where would you identify losses for tickets not sold or sold less than what was paid?
Be careful here. Unless you are in the business of reselling your tickets, you can't deduct losses and you should not use schedule C. You would simply allocate the season price to the price per game/per ticket, and if you sell for more, that is gross miscellaneous or hobby income, and if you sell for less, that's just a loss, not deductible.
There are a number of factors to be a legitimate business, and if you are claiming to be a business when you are not (so you can deduct losses that should be personal and not deductible) that can be an audit issue resulting in back taxes and penalties. Here are some of the factors to help decide if the activity is a business.
https://www.irs.gov/newsroom/heres-how-to-tell-the-difference-between-a-hobby-and-a-business-for-tax...
