Captain Caveman Posted January 22, 2022 Share Posted January 22, 2022 4 hours ago, billsfanmiamioh said: This is BS. I’ve consistently lost money every year I’ve been a season ticket holder. At one point I had 10 tickets during the drought. I’ve lost thousands and now the IRS wants a piece? BS But if you’re losing money you dont owe taxes on it. Quote Link to comment Share on other sites More sharing options...
Ed_Formerly_of_Roch Posted January 22, 2022 Share Posted January 22, 2022 1 hour ago, Motorin' said: Do you run your own business? Have you ever filed a Schedule C? Not in past few years. 1 Quote Link to comment Share on other sites More sharing options...
Matt_In_NH Posted January 22, 2022 Share Posted January 22, 2022 4 hours ago, Bob Chandler's Hands said: Oh, believe me, I know how much I contribute. And the % gets higher every year. So glad Uncle Sam is reaching into every couch cushion to take more. 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. Quote Link to comment Share on other sites More sharing options...
Matt_In_NH Posted January 22, 2022 Share Posted January 22, 2022 Looked like Henry could have extended there. Quote Link to comment Share on other sites More sharing options...
billsfan89 Posted January 22, 2022 Share Posted January 22, 2022 5 hours ago, galept said: This is a sale, and income is income. You're right that if Ticketmaster didn't do this they would face the wrath of the federal government. With that said, Ticketmaster is one of the worst companies in this nation and I hope everyone on here avoids them like the plague. Ebay and other companies that allow people to sell stuff do this but ***** Ticketmaster none the less. Quote Link to comment Share on other sites More sharing options...
Heathcliff Posted January 22, 2022 Share Posted January 22, 2022 24 minutes ago, mattynh 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. Agreed! So act like I do. Spend less than your income. Quote Link to comment Share on other sites More sharing options...
SoTier Posted January 22, 2022 Share Posted January 22, 2022 3 hours ago, klos63 said: It's only complicated for the wealthy. The majority of taxpayers can fill out their tax return in about an hour at most. All income is taxable, always has been. If people really had no idea, that's on them. I'm no fan of paying taxes like anyone else, but I try to know the rules. It's not that hard to keep up. Venmo in itself isn't taxable, but if you earn income using Venmo, that income is taxable. Venmo will need to report, just like any other business does. Not quite true but close enough for anybody who isn't self-employed or has a lot of actively managed investments, especially with tax software like TurboTax. I've always done my own taxes, and my taxes have been somewhat complicated at times. 3 hours ago, Steptide said: Thing is, income ISN'T supposed to be taxed. 16th ammendment. However that has just conveniently been over looked for eternity now. Edit - I should clarify a little. Only since early 1900s did the government tax income. Technically though, income was never meant to be taxed Well, originally, slavery was meant to be legal and women weren't meant to vote. Oh, yeah, and all the freedoms we take for granted like freedom of speech and religion weren't meant to be protected either since they weren't in the original Constitution either but exist because of amendments. The "pristine" original Constitution barely lasted three years. 1 Quote Link to comment Share on other sites More sharing options...
PromoTheRobot Posted January 22, 2022 Share Posted January 22, 2022 1 hour ago, BillnutinHouston said: Correct. The problem is this statement from the email they sent - direct quote: "Before we can pay you, we will need to collect your taxpayer information in accordance with applicable laws." So if I don't send my SSN, I don't get paid. Gotcha. Quote Link to comment Share on other sites More sharing options...
mead107 Posted January 23, 2022 Share Posted January 23, 2022 ***** overreaching by the government Quote Link to comment Share on other sites More sharing options...
Wags67 Posted January 23, 2022 Share Posted January 23, 2022 This may have already been stated, but 1099 only has to report everything over $600 as income. The first $599 from any one source is not taxed until it breaks the $600 threshold. Quote Link to comment Share on other sites More sharing options...
Maine-iac Posted January 23, 2022 Share Posted January 23, 2022 (edited) So if they need your info because you sold a ticket and made money does that mean you can write off the tickets just because you purchased them? Technically if it can be taxed as income it can be written off as loss so therefore you should be able to write off expenses. So just go ahead and write of you season tickets every year on the chance you might sell one or two games. Edited January 23, 2022 by Maine-iac Quote Link to comment Share on other sites More sharing options...
Matt_In_NH Posted January 23, 2022 Share Posted January 23, 2022 6 hours ago, Steptide said: Thing is, income ISN'T supposed to be taxed. 16th ammendment. However that has just conveniently been over looked for eternity now. Edit - I should clarify a little. Only since early 1900s did the government tax income. Technically though, income was never meant to be taxed looks like you are missing other frivolous constitutional arguments you can throw around. https://www.irs.gov/privacy-disclosure/the-truth-about-frivolous-tax-arguments-section-i-d-to-e Quote Link to comment Share on other sites More sharing options...
sullim4 Posted January 23, 2022 Share Posted January 23, 2022 10 minutes ago, Wags67 said: This may have already been stated, but 1099 only has to report everything over $600 as income. The first $599 from any one source is not taxed until it breaks the $600 threshold. It's taxed... just not reported. Not that I am advocating this, but the IRS ain't gonna know what the cost basis of your goods are. The easiest way to get around this reporting requirement is to report the basis as equal to, or higher than the net proceeds. 1 1 Quote Link to comment Share on other sites More sharing options...
Steptide Posted January 23, 2022 Share Posted January 23, 2022 10 minutes ago, mattynh said: looks like you are missing other frivolous constitutional arguments you can throw around. https://www.irs.gov/privacy-disclosure/the-truth-about-frivolous-tax-arguments-section-i-d-to-e Ya, Yada Yada Yada. I think we can all agree though that we as working individuals are over taxed Quote Link to comment Share on other sites More sharing options...
Matt_In_NH Posted January 23, 2022 Share Posted January 23, 2022 4 minutes ago, Steptide said: Ya, Yada Yada Yada. I think we can all agree though that we as working individuals are over taxed I would like to pay less taxes but the US federal taxes are quite low when compared to the rest of the civilized world. I get your point but we spend way more than we produce in taxes and the rate of debt is accelerating...so you are getting things today that will get paid for (in some way) by a future generation....I think that sucks. Living in New Hampshire we dont have an income tax or sales tax....we also don't have great services and there are small local roads that have not been repaved in 40 years. Most towns don't have trash pickup and in general there are much less services. https://www.taxpolicycenter.org/briefing-book/how-do-us-taxes-compare-internationally 1 Quote Link to comment Share on other sites More sharing options...
klos63 Posted January 23, 2022 Share Posted January 23, 2022 1 hour ago, Steptide said: Ya, Yada Yada Yada. I think we can all agree though that we as working individuals are over taxed Compared to who? The US has one of the lowest tax rates of any developed nation. Quote Link to comment Share on other sites More sharing options...
mead107 Posted January 23, 2022 Share Posted January 23, 2022 January 1, 2022. This means that any seller or fan earning more than $600 annually as a result of a sale, or sales, through any U.S. Ticketmaster marketplace (including Account Manager) is required to complete a 1099 form. Quote Link to comment Share on other sites More sharing options...
Orlando Tim Posted January 23, 2022 Share Posted January 23, 2022 9 hours ago, K-No said: I had to sell my season tickets to the Patriots playoff game. I later received an email from Ticketmaster saying they cannot send me the money from the sale until I send them my SSN etc. so they can send me a 1099K and notify the IRS of the proceeds. Does it matter that I made $0 profit from the sale? So, do I need to file separate forms come tax time? Amount paid vs amount sold for, deduct fees etc.? As far as regular season games, tickets don't have a face value anymore, just one price for the season. I don't even know the price of an individual ticket. I don't blame Ticketmaster for this one, I'm guessing it's the government, but it's one more reason to not use Ticketmaster unless you need to. They charge buyers over 20% and hold the seller's money for about a month. Yer killin me Smalls. Technically you are supposed to pay taxes on sales over $600 for at least the past 6 years. I know because that is how long I have had NBA seasons and sold at least half. What worries me is that I always able to zero out cost because the ticket sales never amounted to more than cost of season tickets and with the higher scrutiny will they ask what each ticket cost vs individual sale? All under the cover of making Billionaires pay their fair share, so bogus Quote Link to comment Share on other sites More sharing options...
Steptide Posted January 23, 2022 Share Posted January 23, 2022 23 minutes ago, klos63 said: Compared to who? The US has one of the lowest tax rates of any developed nation. Wasn't comparing to anyone. You can include the world in my statement if you'd like. We're taxed on anything and everything. Don't get me wrong, I believe citizens have to pay their taxes, but to whar extent Quote Link to comment Share on other sites More sharing options...
Mango Posted January 23, 2022 Share Posted January 23, 2022 (edited) This bothers me just because we spend these resources tracking normal people selling a pair of tickets to single game. We are are chasing taxes on Venmo for garage sales. Just random people who earn like $60k per year making 200 bucks in their driveway 3 times per decade But some people pay like a 4% tax rate on huge incomes Edited February 24, 2022 by Mango 3 Quote Link to comment Share on other sites More sharing options...
Jeffbigalls Posted January 23, 2022 Share Posted January 23, 2022 Wait till the 1099s roll on from the online betting sites, that's why I prefer just to go to the casino. 1 Quote Link to comment Share on other sites More sharing options...
BarleyNY Posted January 23, 2022 Share Posted January 23, 2022 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. 1 Quote Link to comment Share on other sites More sharing options...
Liberal Bob Posted January 23, 2022 Share Posted January 23, 2022 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. Quote Link to comment Share on other sites More sharing options...
Punching Bag Posted January 24, 2022 Share Posted January 24, 2022 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. Quote Link to comment Share on other sites More sharing options...
Matt_In_NH Posted January 24, 2022 Share Posted January 24, 2022 3 and outs are not gonna get it done. Quote Link to comment Share on other sites More sharing options...
Punching Bag Posted January 24, 2022 Share Posted January 24, 2022 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. Quote Link to comment Share on other sites More sharing options...
Bob Chandler's Hands Posted January 24, 2022 Share Posted January 24, 2022 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. Quote Link to comment Share on other sites More sharing options...
PromoTheRobot Posted February 23, 2022 Share Posted February 23, 2022 (edited) 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 Quote Link to comment Share on other sites More sharing options...
RiotAct Posted February 23, 2022 Share Posted February 23, 2022 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? Quote Link to comment Share on other sites More sharing options...
\GoBillsInDallas/ Posted February 23, 2022 Share Posted February 23, 2022 On 1/22/2022 at 2:21 PM, co_springs_billsfan said: As a CPA 1 Quote Link to comment Share on other sites More sharing options...
PromoTheRobot Posted February 23, 2022 Share Posted February 23, 2022 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. Quote Link to comment Share on other sites More sharing options...
Punching Bag Posted February 24, 2022 Share Posted February 24, 2022 1 hour ago, BUFFALOBART said: Ticketmaster is a POS. Perfect partner for NFL marketing. 1 Quote Link to comment Share on other sites More sharing options...
Jerry Jabber Posted February 24, 2022 Share Posted February 24, 2022 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! Quote Link to comment Share on other sites More sharing options...
Punching Bag Posted February 24, 2022 Share Posted February 24, 2022 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. 2 Quote Link to comment Share on other sites More sharing options...
Process Posted February 24, 2022 Share Posted February 24, 2022 (edited) 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 Quote Link to comment Share on other sites More sharing options...
Tuco Posted February 24, 2022 Share Posted February 24, 2022 (edited) 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 1 Quote Link to comment Share on other sites More sharing options...
Process Posted February 24, 2022 Share Posted February 24, 2022 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. Quote Link to comment Share on other sites More sharing options...
Jerry Jabber Posted February 24, 2022 Share Posted February 24, 2022 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. Quote Link to comment Share on other sites More sharing options...
Tuco Posted February 25, 2022 Share Posted February 25, 2022 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. Quote Link to comment Share on other sites More sharing options...
Just Jack Posted August 8, 2022 Share Posted August 8, 2022 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. Quote Link to comment Share on other sites More sharing options...
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