Event Ticket Sales

[tomberdan]

In light of the recent tax changes, individuals earning more than $600 will get 1099's for sales of event tickets this year.  How do I account for these sales, do I report the net gain from the sale on my taxes?  Thus, if the tickets are $200 each and I sell them for $400 each and net $160 (after sales fees), do I report $160 gain per ticket on my taxes, and if so, where?

Thanks,

[ee-ea]

See this info from the IRS

https://www.irs.gov/newsroom/know-the-difference-between-a-hobby-and-a-business