Hi All,
I received a 1099-K from Live Nation Entertainment for "Payment Card and Third Party Transactions", which was a result of my resale of my season tickets to the Boston Celtics. This is not for self employment.
Based on my state rules, I'm not required to report the income on my Federal taxes as I didn't meet the gross amount minimum. However, I meet the minimum for State taxes.
My question is how do I report this specifically for state taxes? Also, since these were resales of tickets I had already purchased, do I only report on the profit made from the tickets? Thanks much.
