Hello,
I received a 1099-K from SeatGeek for resale of sports tickets for 7 games. These were not sold as a business; we have season tickets and were unable to attend the games.
Under 1099-Misc, other Income, I selected Personal Items Sale, filled in the information from the 1099-K. Is this the correct classification?
When I went to the next section Interest and Dividends, it said I will need enter/review each personal item sold. Since each game was a separate sale, I am thinking I need to enter each sale/transaction separate. Is that correct? I listed the Amount Paid (Face value of the ticket, cost of membership (needed to purchase tickets) and seatback) Am I able to include that in the total cost I paid out?
I listed the proceeds as payment I received. Would the percentage SeatGeek took be considered Sales Expense?
Thank you for your help and guidance.
