Form 1099K for sale of personal nfl game tickets

[Silverado2]

I sold 4 games from our personal nfl season ticket package in 2024.  All were sold at a gain and bought and sold in 2024 (short term).  I have received a 1099K from Live Nation/Ticketmaster.  I've seen other similar questions here about how to navigate TurboTax to report this income via download so that it appears correctly on a1040.   I always enter the information in TurboTax myself, however - not via download.  Our return is very straightforward otherwise.   I am confused about where to begin and then how to navigate to enter the details of each transaction?    I guess a Form 8949 is eventually generated by TurboTax?

I have the information on the individual games sales proceeds paid to me from TicketMaster - but no detailed  information on fees other than by just subtracting what I received from the gross proceeds.  Not sure why the Gross Proceeds are even relevant for income tax purposes?  As others have reported, the 1099K total is about 25-30% higher than the funds I actually received for all 4 games in box 1a.  TicketMaster added a footnote to the detailed transaction information that the reportable gain is the difference between what I actually received from the sales and what I paid for each game.  As I would expect.  And since the tickets were bought and sold in less than 12 months, I would expect the gains to all be short term and reported as taxable income for 2024, and then taxed at the applicable tax rate for our taxable income bracket for the year.  Not taxed at the Capital Gains rate.

It seems to me that either the IRS or TurboTax, or both, are taking something that should be very simple and  straightforward and making it extraordinarily difficult!  It should be no different than reporting individual sales of stock or other investments on Schedule D, imo. 

Sensing my frustration yet? 

Where do I start to enter the transaction information myself to report the gains from these sales??  So that the income to be taxed is just the difference between what I actually received and what I was actually paid, as Ticketmaster correctly stated?  Not the difference between the gross amounts and the tickets costs.  And so the correct forms and information is generated by my TurboTax package?

Any help would be greatly appreciated!  Thank you.

[KrisD15]

Form 1099-K is new and can report so many different types of transactions.  I assume the way it is entered in TurboTax will change, but for now it's a little complicated but do-able if you follow these steps. 

In TurboTax enter the 1099-K under:

• 
  Income
  Other Common Income
  Income from Form 1099-K     START

On the “Did you get a 1099-K?” screen, select “Yes”
On the “Which type of income is your 1099-K for?” screen, select “Personal item sales”     CONTINUE

Enter the 1099-K as it was reported 
CONTINUE
On the next “Personal Item Sales” screen, make the correct selection. 
Choose “I sold some items at a loss or had no gain” if you made a profit on any individual sale

CONTINUE
Finish the interview and select done on the “Your 1099-K summary” screen, this reports the 1099-K but not yet any income since the capital gain needs to be calculated

YOU ARE NOT DONE since you made the first choice that only SOME items sold at a loss, that would mean that at least one item sold at a gain, for a profit. 
Now you need to report the sale, go to 

• 
  Income
  Investment Income
  Stocks, Cryptocurrency, Mutual Funds, Bonds, Other    click UPDATE
  The next screen should show “Personal items sales (1099-K)” 
  Click REVIEW to open 

The next screen has an input screen for the Personal items you sold at a
profit/gain.
Enter one sale at a time.
Report when purchased, when sold, how much you paid to buy it and how much they paid to buy it from you

The next screen asks for selling fees.

The profit is Capital Gain listed on your 1040 line 7
 

[Silverado2]

Thank you, KrisD15. That helps.  Maybe I wasn't clear enough, though.  My fault.  Each of the  4 transactions resulted in a Gain.  There were no loss transactions.

Not sure why I would click on "I sold some items at a loss or had no gain"?

Does that clarification change your instructions?

Thank you again.

[dschill123]

Thank you for asking this question as clearly as you did.  This is the most confusing part of taxes this year.  NFL is easier with limited games but add in Baseball tickets throughout the year.  This HAS to be affecting many people and the information and instructions - anywhere - are abysmal (tho I think I can follow the answer your question finally got and figure something out - its just going to be A LOT of manual input and  backward research to find out the actual dates, original prices, sales prices, etc. )  This is going to be even worse next year when the limit drops down to $600.  You'd think Turbo Tax would have a clear answer upfront.  SMH