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irene599
Rookie

1099 tax form

Does anyone know if I sell tickets more than $20000, how much taxes do I need to pay?
2 REPLIES 2
Melpik
Legend

Re: 1099 tax form

Hi Irene

 

this is a question for your tax professional and is based on many factors.  These factors include what you paid for the tickets, what tax bracket you are in, what state you file your taxes, etc.

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artamous
Stagehand

Re: 1099 tax form

Make sure to know if you get 1099 and have to fill out form for income that you enter the cost of the tickets as an expense so you pay taxes on the "profit". I have to sell tickets for less than I pay for them too many times. I lost $150 on opening day alone. Discuss with tax preparer or if you do your own return to review this and understand better

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