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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 L4s@lemmy.world to c/technology@lemmy.world

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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.

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[–] yoz@aussie.zone -5 points 1 year ago (2 children)

Wtf! People actually pay top $ for this? Fucking stupid 9-5s !! Just my 2 cent: 9-5 aka regulars are really important for the economy , without them the economy will crash but also 9-5s are not important because paying them living wage or paying them more can actually shift the balance of power.

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[+] sudo22@lemmy.world -18 points 1 year ago* (last edited 1 year ago) (10 children)

Fuck scalpers, but I refuse to look at the $600 tax rule as anything other than a way for the government to squeeze money from and spy more on the common people.

Edit: to clarify I'm not rooting for the scalpers, I just don't want this governmental overreach to be put in a positive light just because its also affecting people we rightfully hate.

For those that don't know. The $600 tax rule is a requirement that Zelle, Venmo, etc must report transactions over $600 to the government so they can be taxed. Get a $600 graduation gift from grandma? Taxed. Get $1000 from your roommates to pay rent? You now have to document and show that so its not taxed. Sell a bike (that you ALREADY paid sales tax on using money you ALREADY paid income tax on) for $800, would you look at that its going on the tax form.

[–] Squizzy@lemmy.world -4 points 1 year ago (20 children)

Already paid tax thing is not applicable, it's literally how taxation works. The government gets their share at each point. Everytime a taxable good changes hands, with exception, the tax is applied again.

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