I sold my ticket at Ticketmaster which resulted in a loss. How do I report this?

jook99
jook99 Member Posts: 1 Newcomer
in Filing my taxes

Hi, I sold my tickets last minute on Ticketmaster this year but it resulted in a loss. I understand I need to report the loss when I file my taxes, but I am unsure of how to handle this. How do I report this information?

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Answers

  • kiarab
    kiarab FreeTaxUSA Agent Posts: 117

    Hello,

    Personal items sold at a loss generally do not need to be reported on your tax return. However, I do see that 1099-K has been tagged on this discussion. Did you receive a 1099-K reporting the sale of your ticket?

    If so, please go to Income -> Business Income -> 1099-K Income. The software should ask you who sent you the 1099-K. Since Ticketmaster is not an option, you can click on Other. And click on Save and Continue. 

    The next page will ask if your 1099-K is from Personal Transactions. You will want to say Yes and then click on Save and Continue.

    The next page will ask if any of your 1099-K personal transactions were from the sale of a personal item sold for a loss. Say Yes and then enter the amount you received from the 1099-K in the box below.

    The amount you sold for a loss will now be reported on your Schedule 1 at the top (before the numbered items).

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