Technology

59312 readers

4597 users here now

This is a most excellent place for technology news and articles.

Our Rules

Follow the lemmy.world rules.
Only tech related content.
Be excellent to each another!
Mod approved content bots can post up to 10 articles per day.
Threads asking for personal tech support may be deleted.
Politics threads may be removed.
No memes allowed as posts, OK to post as comments.
Only approved bots from the list below, to ask if your bot can be added please contact us.
Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago

MODERATORS

[email protected]

560

If you resold Taylor Swift Eras Tour tickets, the IRS is watching — A new rule from the IRS is punishing those who resold tickets for more than $600 in profit with a tax penalty (gizmodo.com)

submitted 1 year ago by [email protected] to c/[email protected]

108 comments fedilink hide all child comments

If you resold Taylor Swift Eras Tour tickets, the IRS is watching — A new rule from the IRS is punishing those who resold tickets for more than $600 in profit with a tax penalty::A new rule from the IRS is punishing those who resold tickets for more than $600 in profit with a tax penalty.

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 1 points 1 year ago

I understand wanting to go after scalpers, but the $600 limit isn't specifically for ticket reselling websites - it includes transactions not categorized under "Friends and Family" on places like PayPal as well.

I use various cashback websites who pay out via PayPal and I'm starting to get close to the limit. As soon as I cross it, I either have to give PayPal my SSN or have 24% withheld by the IRS.

If a friend accidentally sends me money via "Goods and Services" instead of "Friends and Family" on PayPal and puts me over the threshold, I'm the one in trouble.