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This means that if you sold tickets for more than $600, your ticket platform would send you a Form 1099-K and report that income to the IRS, even if you didn’t make a profit on your sales.
"Selling concert and sports tickets online for profit is a great way to make extra money, ... You'll fork over 15% to StubHub for selling and a $5 service charge plus $4.95 email delivery on the ...
Ticket resale (also known as ticket scalping or ticket touting when done for profit) is the act of reselling tickets for admission to events. Tickets are bought from licensed sellers and then sold for a price determined by the individual or company in possession of the tickets.
The company allows for ticket sellers to gain a profit, but unlike eBay, without involving auctioning. [61] Many sell their extra tickets on StubHub at a profit, often tickets which are in high demand which are difficult to find.
The threshold was supposed to be dropped to $600 in 2021 after Congress passed changes to ensure taxes get paid on income from gig work and selling concert tickets or other things online.
Corporate ticket reselling firm Ticketmaster developed a strong online presence, dominating the online market. But, by 2006 Ticketmaster's stranglehold on the industry loosened with the emergence of other online ticket brokering companies, such as StubHub who won Major League Baseball's ticket resale business over Ticketmaster. [1]
Later, these tickets are often resold on third-party sites for profit at a markup over face value, or at a loss. This activity is also referred to as ticket scalping. The BOTS Act outlawed the resale of tickets purchased using bot technology and set a fine of $16,000 for violations of the act, which is enforced by the U.S. Federal Trade Commission.
Ticketmaster is a long-standing and trusted platform for buying and selling sports tickets. With over 30 years in the business, it offers a wide range of full-price original tickets, as well as ...