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Old Apr 22, 2019, 8:53 am
  #10  
Steve in Olympia
 
Join Date: Sep 2009
Posts: 2,832
Originally Posted by camaross
OP is buying tickets, and selling them to his friend at cost. That's a business, and based on IRS rules the OP should be filing a schedule C on their tax return. If his friend pays him over 20k in a year, OP's friend should also be filing a 1099k to report the transactions to the IRS.
And the net result is zero income.

Should I be filing with the IRS when my friends reimburse me for the restaurant meals we share?
Steve in Olympia is offline