re: I just got a message from Ticketmaster about a 1099

Posted by flyAU

Scottsdale

Member since Dec 2010

24897 posts

Posted on 1/9/22 at 7:39 pm to BilJ

I am fine with taking the loss if it means less intrusion on my personal sales

Posted by litenin

Houston

Member since Mar 2016

2517 posts

Posted on 1/9/22 at 7:45 pm to BilJ

What about if you aren’t able to use tickets and can’t sell? Or should you sell for $1 in that case to deduct the loss?

I’m assuming the $600 is total for year rather than individual transaction.

Posted by flyAU

Scottsdale

Member since Dec 2010

24897 posts

Posted on 1/9/22 at 7:58 pm to litenin

quote:
What about if you aren’t able to use tickets and can’t sell? Or should you sell for $1 in that case to deduct the loss?

That is a really good point. I have had times I couldn’t sell them. Should have a friend just buy them for a dollar.

Yes for the year.

Posted by Flashback

reading the chicken bones

Member since Apr 2008

8479 posts

Posted on 1/9/22 at 8:44 pm to flyAU

Report it as a loss for fricks sake.

Posted by flyAU

Scottsdale

Member since Dec 2010

24897 posts

Posted on 1/9/22 at 8:45 pm to Flashback

quote:
Report it as a loss for fricks sake.

Go frick your self

Posted by Breadstick Gun

Colorado Springs, CO

Member since Apr 2009

10268 posts

Posted on 1/9/22 at 9:14 pm to flyAU

Lol Falcons

Posted by Jcorye1

Tom Brady = GoAT

Member since Dec 2007

74905 posts

Posted on 1/9/22 at 9:20 pm to flyAU

I don't do taxes, but if I had to guess, report it on the 1040 Schedule D.

Posted by flyAU

Scottsdale

Member since Dec 2010

24897 posts

Posted on 1/9/22 at 9:27 pm to Breadstick Gun

quote:
Lol Falcons

I heard you laugh next to me on the off-season couch.

Posted by Speedy G

Member since Aug 2013

3984 posts

Posted on 1/9/22 at 9:39 pm to flyAU

If you sold at a loss you don’t need to do anything. If purchased as an investment or for business purposes you can claim the loss.

Posted by flyAU

Scottsdale

Member since Dec 2010

24897 posts

Posted on 1/9/22 at 10:58 pm to Speedy G

quote:
by Speedy G

It pusses me off that if my team was worth anything And made A profit I would owe money

My team being a pile of shite and having to even deal with the irs is bulahit.

This post was edited on 1/9/22 at 11:00 pm