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This means that if you sold tickets for more than $600, your ticket platform would send you a Form 1099-K and report that income to the IRS, even if you didn’t make a profit on your sales.
As of 2016, ticket resale was Ticketmaster's fastest growing business. [48] In 2022, Ticketmaster was experimenting with a demand-based, dynamic pricing which would vary the ticket price based upon demand. The new system is touted to give artists a higher share of the revenues that would otherwise be coming through resale ticket sales. [49]
Ticket resale is common in both sporting and musical events. Ticket resale is a form of arbitrage that arises when the number demanded at the sale price exceeds the number supplied (that is, when event organizers charge less than the equilibrium prices for the tickets).
The Better Online Ticket Sales Act of 2016 (Pub.L. 114-274, S.3183, commonly referred to as the BOTS Act) was signed into federal law by President Barack Obama on December 14, 2016. [1] This act was created to thwart attempts by individuals and organization to automate the process of purchasing tickets en masse using ticket bots. Later, these ...
Before purchasing a ticket, make sure all of the information provided by the seller matches the official event information. “Even a slight typo can be a telltale sign of a scam,” Kingsley said.
With icons like Taylor Swift on tour this summer, concert ticket purchases are booming. Unfortunately, so are ticket scams. In 2022, the Better Business Bureau (BBB) received over 140 reports on ...
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