Folks who made a killing reselling tickets to some of the year’s hottest concerts like Taylor Swift, Beyoncé — or even big sporting events like Lionel Messi‘s Miami games — are gonna have to pay up, courtesy of the IRS.
New rules for the 1099-K form say those who unloaded tickets on StubHub or Ticketmaster, selling more than $600 worth of tickets this year, are now required to put the earnings down as taxable income.
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The 1099-K form focuses on payments received from credit and debit cards, gift cards, and third-party payment networks and online marketplaces — which fits Ticketmaster and StubHub right in that lineup.
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As you know, resellers were practically top dogs in the world of live events this year … whether it be selling back to Swifties at the Eras Tour, or fans of Queen Bey wanting to go to her Renaissance Tour.
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Even tickets for Messi’s soccer games were getting resold for a steep markup.
Of course, ya could look at this as just another thing to give up to the IRS … or, as justice for those who paid thousands for tickets from scalpers.
