Were you one of the lucky people who scored tickets to the Taylor Swift’s Eras Tour last year? If you resold them instead of attending the show, you’re probably on the Internal Revenue Service’s (IRS) radar.
Thousands of Americans are in a similar situation and will receive a new form this tax season: the 1099-K. This form is to report payments received on money transfer apps, online marketplaces, or stored value cards. This includes business sales on apps like Venmo or CashApp, or resale platforms like StubHub, Ticketmaster, Etsy, and eBay.
