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I got a PayPal1099K for $700. This is from selling face value tickets I could not use on fan site cashortrade.org I was not making money. Does this need to be reported?

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I got a PayPal1099K for $700. This is from selling face value tickets I could not use on fan site cashortrade.org I was not making money. Does this need to be reported?

Not if you didn't make at least $500 profit

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