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Get your taxes done using TurboTax
According to the IRS, the income is taxable. StubHub is required to send a 1099-K to you BUT ONLY if you have $20,000 or more in transactions...from your information, it doesn't sound like this is the case. So...
- If you have made selling tickets into a business enterprise, then you
would enter the income from selling the tickets, and also the expenses,
on form 1040 Schedule C. I have included a screenshot below of where to
begin this process in Turbo Tax.
-
Alternatively, you can use Schedule D (form 1040) to report the income. I have included a screenshot of the Turbo Tax screen that will start this process. You would use Schedule D if you are not "in the business" of selling tickets.
For more information see:
IRS Taxable and Non-Taxable Income (click here)
IRS Publication 525 (click here)
‎June 5, 2019
10:32 PM