Loserville vs UCF Friday, Sep 9th. Lots of tix avail
- Thread starter Central Floridave
- Start date
We got 44k for SC State. I expect more for Louisville. The pocket of empties in the upper visitor section should be better.
two days before kick off and no movement on ticket sales. 
Lots of seats available. Time to bogo.
Lots of seats available. Time to bogo. Hold that thought, just checked my email. 2 out of the 4 tickets sold today. But still a lot of seats available.
So, I get an auto email from ticketmaster and it wants me to fill a form out including name, address, an SSN and fill out a W9 form for the IRS. Gotta pay taxes on this? I'm losing money selling the tickets under value. I pulled the other 2 from the system. Ticketmaster is not getting my SSN. I'll just take the loss on the two tickets. They suppose to credit my account. Anyone know if this they way it is suppose to go? If I don't fill out a w9 ticketmaster isn't crediting my account?
They just hired 87k IRS agents what did you think would happen?
What a racket this is. I wish I was informed of this before I put my tickets on the UCF ticket exchange. So now Ticketmaster gets to keep my money as they won't pay me if I don't fill out a w9. They really should have made sure the seller submits a w9 before listing the tickets.
business.ticketmaster.com
2024 U.S. Tax Law Updates You Need to Know - Ticketmaster
Per the American Rescue Plan Act of 2021, the U.S. Internal Revenue Service (IRS) changed the reporting thresholds for e-commerce sales such that Ticketmaster
business.ticketmaster.com
Ticketmaster is the biggest racket on the planet. Hate them so much.
So, for example, I buy one ticket thru UCF at 40 bucks. I get charged multiple fees from ticketmaster and UCF. Bumps my price up to 55 bucks. Then I want to resell them due to can't make it to the game. I don't really need to make a profit so I just want to make sure someone is in my seats. So I list them for 20 bucks. Not only again do they add fees to the ticket price (listed at 30), but now want me to possibly pay taxes on a loss of money i'm taking. Eh? Fug 'em.
"Fans will be notified of this requirement when they sell on any Ticketmaster U.S. marketplace (including Account Manager). No action is required on the part of Event Organizers to communicate this change."
"If you fail to provide your taxpayer information, you will not be eligible to receive payment upon the completion of sales of your tickets until you do."
Ching ching for ticketmaster. What a racket. They win on this one. They got my money and probably 100,000 thousands of others. I'll never try to resell tix thru them again.
I guess ticket scalping is a thing of the past. I sell my tickets at a loss for me, then have to pay taxes on that 'income'? The previous years I resold on ticketmaster I sometimes would go over 600 bucks in a calender year. I just wanted credit to my account.
Oh well. Nevermind me. I'm moving on. Go Knights!
Ching ching for ticketmaster. What a racket. They win on this one. They got my money and probably 100,000 thousands of others. I'll never try to resell tix thru them again.
I guess ticket scalping is a thing of the past. I sell my tickets at a loss for me, then have to pay taxes on that 'income'? The previous years I resold on ticketmaster I sometimes would go over 600 bucks in a calender year. I just wanted credit to my account.
Oh well. Nevermind me. I'm moving on. Go Knights!
Terrible. Thats super frustrating.
Separate story, I was going to buy some tickets for an event at the Amway through TicketMaster and fees were literally half the cost. I was able to walk up to the box office window at the arena and skip all of that mess - I dont see how they think they add that much value to the mix, I’ll be avoiding them whenever I can.
Separate story, I was going to buy some tickets for an event at the Amway through TicketMaster and fees were literally half the cost. I was able to walk up to the box office window at the arena and skip all of that mess - I dont see how they think they add that much value to the mix, I’ll be avoiding them whenever I can.
What a racket this is. I wish I was informed of this before I put my tickets on the UCF ticket exchange. So now Ticketmaster gets to keep my money as they won't pay me if I don't fill out a w9. They really should have made sure the seller submits a w9 before listing the tickets.
2024 U.S. Tax Law Updates You Need to Know - Ticketmaster
Per the American Rescue Plan Act of 2021, the U.S. Internal Revenue Service (IRS) changed the reporting thresholds for e-commerce sales such that Ticketmaster
I don’t think that’s a good idea if you get a 1099-k. The IRS just hired 80k agents for stuff like this
Just offset the income with expenses. In this case, original ticket + costs + other expenses you are entitled to. Show a very small loss end of year. No income tax, no IRS audits
IRS will not audit for $100 sale. You can claim $15,000 in gifts. Anything under that is not worth it to go after everyone. Thousands of people cash out 401 Ks every year and don’t pay the taxes on them. Hundreds of thousands probably. The same amount dont pay taxes on online winnings as well. Unless its a good amount of money, they wont come after you. Even if they do, the taxes on $100 is at most $20. Wont affect Earned Income Credit or make you go into a higher tax bracket.
Wouldn’t you only be liable to pay taxes on just the capital gains anyways? If you say you are selling at a loss or at a break even, should be a non issue.
You can carry up to 3k in losses forward to future years. Long term capital gains have more favorable treatment than STCG (365 days or less) which are essentially same bracket as ordinary income. Agree w/BlaknGold about the amount being well under the radar but I also worry that with 87k new irs agents from president Brandon we will see these nickel & dime scenarios increase
The year rule applies to stocks for capital gains. Haven’t seen it used elsewhere.
Louisville lost to Syracuse in their first game, I would claim depreciation.
Unfortunately, I‘m laying in a hospital bed tonight and my wife and I won’t make the game tomorrow. So bummed but my wife is trying to recoup some of our ticket cost and listed them on the UCF exchange for $70 each. We didn’t know about all the Ticketmaster BS and 1099 deal, but please let us know if y’all know of anyone wanting good tickets on the home side, lower bowl section 107, row 13. Thanks.
All the selling sites now require information for tax purposes. If you sell for profit it’s taxable. But there are thresholds. If you sell for no profit or a loss it’s not taxable. Hope this helps.
My main thing is not giving my SSN to ticketmaster. They don't need to know that. i'm not in it to make money. I just find it insulting they purposely don't inform you need to fill out a w9 PRIOR to listing them. It's deceiving. In the future, I'll just do the blackmarket attempt to sell my unused tickets, or just give them away free.
Go Knights!
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I know how to transfer tix. Been doing it for years. But, didn't know could transfer with cell number. I usually do it thru email. thanks for info.
It depends on your definition of "wont come after you." I agree that an agent isn't going to conduct a full scale audit for a couple hundred dollars. But the IRS does have a very sophisticated program that matches 1099/1098/W-2 information to an individuals tax return. If there is a discrepancy the IRS automatically sends a letter and flags the taxpayer's IRS account. To resolve you either must amend your tax return or respond with a valid explanation for the discrepancy. Not necessarily a painless endeavor.
Two free tix from me whoever wants them. Just need email to transfer. Reply here.
Also to claim a loss on a stock there is a waiting period to repurchase that stock. I forget how long it is. I havent traded in a year or so.
