Hello. Recently I started selling some of my tickets to sporting events through Stub Hub. I have a few season ticket accounts and I sell tickets if I cannot attend games. In many cases, I profit on the price of the re-sale. My understanding is that I will receive a 1099K documenting the gross sale. Am I able to deduct the amount I paid for the tickets and deduct the fees that are collected from StubHub? Also, what percentage can I expect to be taxed on the net profit I make? Are there any factors that influence this, or is it basically a fixed percentage that is taxed? Thanks.
