Ticketmaster sending sellers 1099s

[Jeffbigalls]

Wait till the 1099s roll on from the online betting sites, that's why I prefer just to go to the casino. 

[BarleyNY]

On 1/22/2022 at 3:54 PM, ArtVandalay said:

Lol Jesus you are incredibly particular. What without representation? Taxes. Yes, taxation was a key issue in the USA establishing independence lol.

Poor attempt at a dodge there.  They didn’t have a problem with taxation WITH representation.  JFC.  Don’t let reality get in the way of your agenda. 

[Liberal Bob]

What happens if you sell a pair of 100 dollar  tickets using Craigslist and you only get 70 each. Do you pay tax based on the 100 price or the actual price sold for 70 each. I tend to sell my extra tickets locally using craigslist and part of the sale is the haggling between the buyer and the seller try keeping track of this.

 

Another point is for many events fans will buy a couple of extra tickets and take the profit if it is a big event to help defray their actual cost, buy 4 sell 2 use any profit to help pay for the pair they use. Not to mention how will this affect season ticket holders who are now going to think twice buying extra tickets.

[Saxum]

Waiting for apology letters to go out when someone cracks their system or some employee beings how data to work at home.

I am sure Russian mobs are big on gambling, legal and illegal, and this will make them a big target.

 

I got an apology letter from USPTO less than a month after I got a job and was given one year monitoring option.

[Matt_In_NH]

3 and outs are not gonna get it done.  

[Saxum]

 

1 hour ago, Limeaid said:

Waiting for apology letters to go out when someone cracks their system or some employee beings how data to work at home.

I am sure Russian mobs are big on gambling, legal and illegal, and this will make them a big target.

 

I got an apology letter from USPTO less than a month after I got a job and was given one year monitoring option.

 

14 minutes ago, mattynh said:

3 and outs are not gonna get it done.  

 

One accidently release of information would be enough for me but some are more lenient.

[Bob Chandler's Hands]

On 1/22/2022 at 5:24 PM, 13 Second Prevent Defense said:

The percent gets higher?  The tax cuts a couple years back netted a decrease for most everyone.   Our taxes don’t come close to paying for what is spent.  

Spending vs. Tax Revenue is a different issue. That's totally out of control. 

[PromoTheRobot]

Has anyone actually received a 1099-K from Ticketmaster? Because I haven't. And there is no place on the website to ask about it. And their support phone number and email is saying don't bother them.  This went quite well.

Edited February 23, 2022 by PromoTheRobot

[RiotAct]

1 hour ago, PromoTheRobot said:

Has anyone actually received a 1099-K from Ticketmaster? Because I haven't. And there is no place on the website to ask about it. And their support phone number and email is saying don't bother them.  This went quite well.

these wouldn’t be sent til early 2023, right? Or did they say that this new rule would be retroactive to last year?

[\GoBillsInDallas/]

On 1/22/2022 at 2:21 PM, co_springs_billsfan said:

As a CPA

 

 

[PromoTheRobot]

1 hour ago, RiotAct said:

these wouldn’t be sent til early 2023, right? Or did they say that this new rule would be retroactive to last year?

They made it sound like it would be for 2021.

[Saxum]

1 hour ago, BUFFALOBART said:

Ticketmaster is a POS.

 

Perfect partner for NFL marketing.

[Jerry Jabber]

I’m still waiting on my refund from Ticketmaster for the AFCCG if it was played in Buffalo. According to their site and help feature, a refund should be automatically processed within 30 days. Today is day #30 and still no refund!

[Saxum]

5 minutes ago, Jerry Jabber said:

I’m still waiting on my refund from Ticketmaster for the AFCCG if it was played in Buffalo. According to their site and help feature, a refund should be automatically processed within 30 days. Today is day #30 and still no refund!

 

Reading fine print it says if there is potential for AFCCG next year they will save your space keeping the money.

[Process]

A 1099K is not like a 1099-INT or 1099-Misc. You do not need to report it on your tax return nor will the IRS question you for a small amount reported to you on a 1099-K. 

 

There are new reporting rules starting in 2022, a lot of people are going to start receiving these. 

On 1/22/2022 at 11:55 PM, Jeffbigalls said:

Wait till the 1099s roll on from the online betting sites, that's why I prefer just to go to the casino. 

Sportsbooks, including online ones, don't issue 1099s unless you win greater than 300-1 on a single bet, which is very rare...

 

Yes there is technically a paper trail when you bet online, but nothing gets reported to the IRS and you won't receive a 1099.

Edited February 24, 2022 by Process

[Tuco]

I'm still stuck on Aunt Suzie's birthday gift. Even though it isn't exactly related to Ticketmaster, it still falls under the same new laws. So Aunt Suzie gives you $1,000 for your birthday. The law says this isn't taxable because the amount is under the taxable threshold for birthday presents from Aunt Suzie. But Aunt Suzie is hip. She's not like grandma. Aunt Suzie is with the times and she uses venmo to send you the same $1,000 gift she's sent you for the last 15 years.

 

Enter the IRS. Now that Aunt Suzie used venmo, there will be a 1099 form generated. You may get this form and throw it out since you know it's not really taxable. Yet when your taxes are filed, the IRS will know you omitted this 1099 form in the amount of $1,000 from your reported income. They won't know it's not taxable, and they won't really care. They will just know that your income listed on your tax form doesn't match theirs.

 

Now in typical IRS fashion, they will presume you guilty of tax evasion. They will send you a bill for the $70 or whatever your tax on $1,000 comes to, plus a generous penalty and late fee, etc. You will now have been judged by an agency of the federal government and found guilty.

 

Fortunately, this is America, and you will be given the opportunity to prove your innocence. This will take a bit of your time and maybe cost you some money, but hey, it's a small price to pay for freedom. Eventually you may prove your innocence and can then claim a small victory against the IRS and their strong arm. Yay.

 

Of course you can avoid all this trouble by listing the $1,000 on your tax return, and going through the trouble of proving it was just a birthday gift from Aunt Suzie ahead of time. Or you can persuade Aunt Suzie to mail you a check like she did for so many years. Although the IRS has already tried, and will most likely eventually succeed in treating that $1,000 bank deposit in the same manner.

 

We didn't really think the IRS was increasing its workforce by 15% to go after GM and Haliburton did we? And none of the above used to happen unless Aunt Suzie's and your other venmo transactions totaled over $20,000, or more than 200 transactions. But starting in 2022 that threshold drops to $600 and a single transaction. Yet somehow there are people who think this is all a good thing because, hey, we need roads to drive and new STADIA (Bills related!), and have to pay our share.

Edited February 24, 2022 by Tuco

[Process]

6 minutes ago, Tuco said:

I'm still stuck on Aunt Suzie's birthday gift. Even though it isn't exactly related to Ticketmaster, it still falls under the same new laws. So Aunt Suzie gives you $1,000 for your birthday. The law says this isn't taxable because the amount is under the taxable threshold for birthday presents from Aunt Suzie. But Aunt Suzie is hip. She's not like grandma. Aunt Suzie is with the times and she uses venmo to send you the same $1,000 gift she's sent you for the last 15 years.

 

Enter the IRS. Now that Aunt Suzie used venmo, there will be a 1099 form generated. You may get this form and throw it out since you know it's not really taxable. Yet when your taxes are filed, the IRS will know you omitted this 1099 form in the amount of $1,000 from your reported income. They won't know it's not taxable, and they won't really care. They will just know that your income listed on your tax form doesn't match theirs.

 

Now in typical IRS fashion, they will presume you guilty of tax evasion. They will send you a bill for the $70 or whatever your tax on $1,000 comes to, plus a generous penalty and late fee, etc. You will now have been judged by an agency of the federal government and found guilty.

 

Fortunately, this is America, and you will be given the opportunity to prove your innocence. This will take a bit of your time and maybe cost you some money, but hey, it's a small price to pay for freedom. Eventually you may prove your innocence and can then claim a small victory against the IRS and their strong arm. Yay.

 

Of course you can avoid all this trouble by listing the $1,000 on your tax return, and going through the trouble of proving it was just a birthday gift from Aunt Suzie ahead of time. Or you can persuade Aunt Suzie to mail you a check like she did for so many years. Although the IRS has already tried, and will most likely eventually succeed in treating that $1,000 bank deposit in the same manner.

 

We didn't really think the IRS was increasing its workforce by 15% to go after GM and Haliburton did we? And none of the above didn't used to happen unless Aunt Suzie's and your other venmo transactions totaled over $20,000, or more than 200 transactions. But starting in 2022 that threshold drops to $600 and a single transaction. Yet somehow there are people who think this is all a good thing because, hey, we need roads to drive and new STADIA (Bills related!), and have to pay our share.

The new requirements don't apply to personal transactions. You won't receive a 1099 for the $1,000 you received from Aunt Suzie.

[Jerry Jabber]

2 hours ago, Limeaid said:

 

Reading fine print it says if there is potential for AFCCG next year they will save your space keeping the money.

I got refunded for the divisional round weeks ago, just not the AFCCG.

[Tuco]

3 hours ago, Process said:

The new requirements don't apply to personal transactions. You won't receive a 1099 for the $1,000 you received from Aunt Suzie.

 

Oh. . . . never mind.

[Just Jack]

Side note, did anyone else see a deposit from TM in your bank account this morning, looking like the paid you for your sold tickets?  I thought they weren't doing that until after games were played.