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Get your taxes done using TurboTax
@TurboTaxPeterM - I have some additional questions. My situation is that I bought season tickets, sold the vast majority of them, and overall made a profit. I'm not in the business of selling tickets, so I enter it under the stocks, bonds, etc area.
1.) What do I pick for the investment type? Personal Items?
2.) There isn't a single sell date, as I sold them at various dates throughout the year. What should I put for the sale date? All but 2 or 3 games were less than a year after I purchased the tickets, so I'm OK with them all being taxed as short term gains (I did the math and I'd save like $2 by claiming those few games as LTG)
3.) Is there any reason I shouldn't create an LLC for selling tickets and do all of my sales through that in the future? The rate on my STG wouldn't be that different, but that would allow me to deduct a loss, correct?
1.) What do I pick for the investment type? Personal Items?
2.) There isn't a single sell date, as I sold them at various dates throughout the year. What should I put for the sale date? All but 2 or 3 games were less than a year after I purchased the tickets, so I'm OK with them all being taxed as short term gains (I did the math and I'd save like $2 by claiming those few games as LTG)
3.) Is there any reason I shouldn't create an LLC for selling tickets and do all of my sales through that in the future? The rate on my STG wouldn't be that different, but that would allow me to deduct a loss, correct?
‎June 5, 2019
10:32 PM