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Get your taxes done using TurboTax
Since this appears to be a side business that you're running and not personal item sales then you will need to declare this as self-employment income.
In TurboTax you'll scroll down in the wages and income section until you reach 1099-MISC and other common income. Click start next to the 1099-K. Enter your 1099-K exactly as it is printed. The IRS has a copy of that and will expect to see the full amount from the 1099-K on your return.
You'll need to figure out what the Ticketmaster fees were - that should be the difference between what you received for your sales and what is on the form. Then you will enter the cost for the tickets that you sold. You will owe tax on the profit over and above the fees and the cost of the tickets.
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‎February 19, 2025
9:13 AM