I am running a high school reunion in 2023. I will receive ticket sales revenue of approx. $10,000 using Eventbrite. I will pay out these funds to various vendors for the reunion. How should I set this up in Eventbrite? I am simply the conduit for these monies, but I understand I will receive a 1099-K at year end because I will exceed the $600 reporting threshold. Will there be income to report? Right now I am using my own SSN. Advice is appreciated!
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That is new territory for tax programs so stay tuned. Rest assured that if you are merely a conduit for the money you will not have to pay tax on it. There will be a way to report the payment and then offset it on your return. If Eventbrite has a way of reporting the income as a pass through that would simplify things.
Did you ever find the answer to this question? I'm running into the exact same issue and want to know how this will be reported before we proceed with ticket sales.
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