New IRS rule on concert ticket reselling

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[{"selector":"#anim-6afcb228-da69-4277-baf3-8a426bdf1471","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2fe07acb-0735-46c7-ba1d-b2a210d35d18","keyframes":{"transform":["translate3d(0px, 152.90125%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-04cc0e8f-cefe-4239-a5d1-81457cf5849b","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2b5f2399-a5d0-42fc-a5de-d16712e4cfba","keyframes":{"transform":["translate3d(-153.49999%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e73c7f17-7026-4406-8627-caf1a60c07e8 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(21.874999829338595%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] The American Rescue Plan Act requires sellers to fill out the 1099-K form, and the earnings will then be subjected to tax income deductions. White Scribbled Underline

[{"selector":"#anim-174292d5-2656-4fdb-9f3f-c62bcdd922e0","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-59811cf3-71d0-4427-8ba2-2f5baf667575","keyframes":{"transform":["translate3d(0px, 182.53973%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a7fc7e84-c2a6-4fdd-9707-97657fd6f486","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b3a9e4ef-ceb0-4ba7-90b0-f09409754fea","keyframes":{"transform":["translate3d(0px, -96.16781%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-58716660-5793-4ca9-b3ca-edaf0d6f6be9","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-06d0cfa6-4621-4113-82ba-8e23fda472be","keyframes":{"transform":["translate3d(-153.49999%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Before, the taxable income on ticket resales was $20,000 in revenue in over 200 transactions. White Scribbled Underline

[{"selector":"#anim-38e77987-cd76-4164-88a0-428d6bdf1a84","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-135aa7c2-46c3-44db-afa0-425ca2207f6e","keyframes":{"transform":["translate3d(0px, 184.22038%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-18af97e4-064e-476a-8524-59b537338adb","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2cf6835e-d8cd-45af-b787-385239a0b21c","keyframes":{"transform":["translate3d(0px, -99.62651%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d189121a-be88-4816-b29c-3cc0816d207f","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1a5a9c26-4105-4d9f-8346-d494cdd66b24","keyframes":{"transform":["translate3d(-153.49999%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] This was triggered after tickets for Taylor Swift's Eras tour saw highly inflated ticket resale prices. White Scribbled Underline

[{"selector":"#anim-7b40346c-ee1f-499c-baef-d20853300780","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-80ef834f-5f3c-4886-9090-de1013cb4ae9","keyframes":{"transform":["translate3d(0px, 182.53973%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d1e59135-5651-452b-ada6-9daedcc9e679","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6ea1b0ac-93cf-4dff-8d3a-e4bf3eda9d1a","keyframes":{"transform":["translate3d(-153.49999%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-62baca2d-2725-4ff3-8c89-4b1efd3c7c4b [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] What began as an average face value price of $254 reached an exorbitant $2,183 at the resell price. White Scribbled Underline

[{"selector":"#anim-72a08062-5ad5-403b-9769-067108e9f755","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-83f19e7b-8994-4d3f-b10f-9c37573ee792","keyframes":{"transform":["translate3d(0px, 187.58173%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a01f1f32-e385-4690-836d-479bcefd6e46","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-46e1c0ff-a9c6-4221-a293-55d97956465e","keyframes":{"transform":["translate3d(-153.49999%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-822a08da-9d55-4b8c-9195-cadfe7a93471 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-25.24999984915238%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Beyonc é 's Renaissance tour ticket resales cost up to $900. Fake tickets were sold and sites also crashed. White Scribbled Underline

[{"selector":"#anim-6eaa5fed-e54c-4130-823c-a78b0f5d16bd","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d6a119bf-f860-4a80-bdc3-477630403216","keyframes":{"transform":["translate3d(0px, 177.49768%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-70cd779d-02b1-4a7f-877f-e16dae67889f","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6efab4f4-392a-4709-ba19-f0a18a70614a","keyframes":{"transform":["translate3d(-153.49999%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8fe33cf0-809d-4dbb-a9f6-ea162100c585 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-14.843749786673241%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] TicketMaster said that the site glitches and inability to prebook tickets were caused by bots. White Scribbled Underline