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TA58
Returning Member

Sports Event Ticket Resale

I sold some sports event tickets (one time sale) at a profit via Ticketmaster.  They sent a 1099-K showing the full amount they received from the buyer including fees.  I entered the information from the 1099-K in box 1a and selected the option "This amount in box 1a is too high or includes some personal transactions".  This allows me to enter the difference between the box 1a amount and my actual cost.  When prompted I entered "I sold some items at a loss or a gain" and entered "0" (this was per information I read on the forum).  At the end, during Smart Check, it says to "check this entry" and brings up the "Capital Asset Sales Worksheet".  I spent 3 hours on the phone with TurboTax yesterday trying to resolve this and they could not provide a solution.  Does anyone else have this situation and how have you resolved it?  Thank you.

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1 Reply
MindyB
Employee Tax Expert

Sports Event Ticket Resale

Since you only sold one item at a gain, this is a capital asset sale.

 

Navigate to: Income > Investments and Savings > Ticketmaster Personal item sales (1099-K) > Review. Now fill out the information, which will include the date you bought and sold the tickets to determine if the gain is short term or long term, the cost, and proceeds.  The expenses of the sale are entered on the screen Let us know if any of these situations apply to this sale that appears after the basic entry described was completed.

 

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