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OT: Ticket thread 2024-2025 (Make sure to read rules on post 1 before posting tix!)

On the phone right now with the attorney general’s office. Live nation sent me a 1099k with completely wrong numbers. WAY overcharged. Didn’t even come close to what they are saying. Time to raise hell
 
GlenFeatherstone said:
On the phone right now with the attorney general’s office. Live nation sent me a 1099k with completely wrong numbers. WAY overcharged. Didn’t even come close to what they are saying. Time to raise hell
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I’m not sure about this, but I think that they included the fees that the buyer paid in the gross sales they reported. I asked them for a report that details the sale info they have reported. They said that they don’t do that. F*ng idiots.

What resulted from your chat with the AG?
 
Add me to the list of LiveNation numbers that don't add up

and even worse..the 1099 reflects the gross sales revenue. to get to your true taxable income you need to have kept the receipts showing what the seats originally cost ....all that is taxable is the difference the cost of the seat and the resulting sales revenue ( after fees)

depending on the number of seats you sold the number can be significant
 
the negotiator said:
Add me to the list of LiveNation numbers that don't add up

and even worse..the 1099 reflects the gross sales revenue. to get to your true taxable income you need to have kept the receipts showing what the seats originally cost ....all that is taxable is the difference the cost of the seat and the resulting sales revenue ( after fees)

depending on the number of seats you sold the number can be significant
Click to expand...
It’s saying $685 on the 1099k when I paid $560 for them.
 
My best friend is dealing with an erroneous 1099K from Paypal and I sent her these on what to do with it since paypal refuses to fix it

www.cnbc.com

Tax pros ‘expecting the worst' with Venmo, PayPal tax reporting change. How to handle a 1099-K for personal payments

While the 1099-K tax reporting change applies to business payments, it's possible you'll receive one for personal transfers. Here's how to handle it.
www.cnbc.com www.cnbc.com

Understanding your Form 1099-K | Internal Revenue Service

Form 1099-K reports payments from payment apps or online marketplaces and from credit, debit or stored-value cards. Use it to help figure and report your correct income on your tax return.
www.irs.gov www.irs.gov

blog.turbotax.intuit.com

1099-K Form Reporting Threshold Guidance Announced For Tax Year 2024 and Beyond - Intuit TurboTax Blog

The IRS announced another delay in reporting thresholds for third-party settlement organizations (TPSOs) set to take effect for the upcoming tax filing season.
blog.turbotax.intuit.com blog.turbotax.intuit.com
 
Alicat said:
My best friend is dealing with an erroneous 1099K from Paypal and I sent her these on what to do with it since paypal refuses to fix it

www.cnbc.com

Tax pros ‘expecting the worst' with Venmo, PayPal tax reporting change. How to handle a 1099-K for personal payments

While the 1099-K tax reporting change applies to business payments, it's possible you'll receive one for personal transfers. Here's how to handle it.
www.cnbc.com www.cnbc.com

Understanding your Form 1099-K | Internal Revenue Service

Form 1099-K reports payments from payment apps or online marketplaces and from credit, debit or stored-value cards. Use it to help figure and report your correct income on your tax return.
www.irs.gov www.irs.gov

blog.turbotax.intuit.com

1099-K Form Reporting Threshold Guidance Announced For Tax Year 2024 and Beyond - Intuit TurboTax Blog

The IRS announced another delay in reporting thresholds for third-party settlement organizations (TPSOs) set to take effect for the upcoming tax filing season.
blog.turbotax.intuit.com blog.turbotax.intuit.com
Click to expand...
So if I’m reading this correctly, the 1099k generated if under $20,000(mine was $685) is delayed by a year. Meaning I wouldn’t have to claim it for this year but in the future I would because they delayed the law a year?
 
GlenFeatherstone said:
So if I’m reading this correctly, the 1099k generated if under $20,000(mine was $685) is delayed by a year. Meaning I wouldn’t have to claim it for this year but in the future I would because they delayed the law a year?
Click to expand...
The federal requirement is delayed a year. But for the past few years Massachusetts (and Vermont) has a $600 state limit while the federal has been 200 transactions and $20,000 in sales.

So you need to report it on your state taxes. I’ve never gotten a straight answer if the 1099k has been going to the IRS also. As Alicat stated you need to talk to a tax professional or you need to decide how to handle the reporting yourself.
 
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bossfan said:
The federal requirement is delayed a year. But for the past few years Massachusetts (and Vermont) has a $600 state limit while the federal has been 200 transactions and $20,000 in sales.

So you need to report it on your state taxes. I’ve never gotten a straight answer if the 1099k has been going to the IRS also. As Alicat stated you need to talk to a tax professional or you need to decide how to handle the reporting yourself.
Click to expand...
I have not yet received a 1099k and I live in NH.
 
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Ladyfan said:
I have not yet received a 1099k and I live in NH.
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I don’t think that you will get a 1099k this year. The $600 threshold is in Massachusetts and Vermont.

The federal requirement is $600 beginning next year. It was supposed to start in tax year 2022 but it was delayed a year.
 
bossfan said:
I don’t think that you will get a 1099k this year. The $600 threshold is in Massachusetts and Vermont.

The federal requirement is $600 beginning next year. It was supposed to start in tax year 2022 but it was delayed a year.
Click to expand...
Good to know. Thanks !
 
anyone hear anything about season ticket renewals for next season yet? feels like we are getting later into the year than usual
 
With the bad weather tonight and tomorrow, if anyone doesn't feel like braving the elements to get into the game and wants to sell, please pm me.

Even if you decide at the last minute.

Thanks!
 
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