"You can't deduct expenses incurred by reselling StubHub tickets if you are filing as a hobbyist."
Here is the problem with this statement:
SeatGeek sends a 1099-K that includes what is deposited in the bank account of the seller by SeatGeek AND the fees that SeatGeek charges the seller per transaction.
So the taxpayer filing as a hobbyist is expected to have the fees SeatGeek retained to be counted as income? Further, the taxpayer filing as a hobbyist is expected to have what the taxpayer paid for the tickets count as income?
Where does TurboTax ask for the fees SeatGeek included in the 1099-K they provided to the seller?
Where does TurboTax ask for the costs the taxpayer paid for the tickets?
Thank you.
