I received an email from Stubhub (in lieu of a 1099-k) for selling some concert tickets. I'm under the federal limit, but above MA's $600 limit. How do I file?

[khanks]

I sold $1970 worth of gross tickets from concerts I couldn't attend. It isn't part of a business, just concerts I couldn't make. I'm under the 200/$20,000 limit for federal but I can't figure out how to file this information on just my MA taxes and not my federal one. Any ideas? Thanks!

[linear]

Did you sell these for what you paid for them, or at a profit? If you didn't make any profit, these sales do not need to be reported. If you did make money on these sales, then you have income to report on both your federal and MA tax returns. (The federal limit is for Stubhub's requirement to provide a 1099-K, not for you to report.)

You are required to report all income. In TurboTax, you enter as "Other Income".

[khanks]

Ok, thanks. So I would have to set it up as a self-employed business and note the original cost of the tickets as a business expense?

[TomD8]

No.  Just enter it in the Miscellaneous Income section, under Other Reportable Income.  Just enter the amount of profit you made.

[Anonymous]

I'm having the same problem with Stubhub ticket sales.  I found the section where I add my "other reportable income", but how do I exclude it from my federal taxes?  I only want to include it in my Mass state states since I'm under the $20k gross income and 200 transaction threshold, but over $600 gross income.

[Anonymous]

Would it be okay to file my federal taxes prior to entering my Stubhub sales...then add it for my state taxes?

[linear]

No. You can't exclude your Stubhub sales from your federal income, because it IS taxable income on your federal return. The threshold only determines whether the payment processor is required to provide a 1099-K to you. Even if you don't receive a 1099-K, you are required to report all income.