When you sell tickets on Ticketmaster, you may be required to provide certain tax information depending on the volume and value of your sales. This helps Ticketmaster comply with tax reporting requirements. Here’s a quick overview of Ticketmaster’s tax information requirements:
If you exceed 200 transactions and $20,000 in sales
If you exceed 200 transactions and $20,000 in gross sales on Ticketmaster in a calendar year, you will be required to provide additional tax information including:
- Your Social Security Number or Employer Identification Number
- Your legal name and address
- Your business information if applicable (DBA, business name, etc.)
This is because you meet the IRS requirements for Form 1099-K reporting. All sellers who exceed both the transaction and gross sales thresholds on third-party settlement organizations like Ticketmaster must be reported to the IRS on a 1099-K form.
If you exceed $600 in sales
If you exceed $600 in gross sales on Ticketmaster in a calendar year, you may be required to provide your SSN or EIN even if you don’t meet the 200 transaction threshold. This is because third-party settlement organizations like Ticketmaster must issue a Form 1099-MISC to sellers who exceed $600 in payments received.
If you’re a business entity
If you’re selling tickets on behalf of a registered business entity like an LLC, corporation, partnership, etc., you’ll need to provide Ticketmaster with your business’s EIN instead of your SSN. You’ll also need to provide full business information including legal name, address, and ownership details.
When the tax info needs to be provided
Ticketmaster generally requires tax information once you cross one of the reporting thresholds mentioned above. Specifically:
- If you exceed 200 transactions and $20,000 in sales in a calendar year, you’ll have to provide tax info before you can complete any more sales.
- If you exceed $600 in sales but less than 200 transactions, you may not be prompted for tax info until early the following year when 1099 forms are being prepared.
In some cases, Ticketmaster may request your tax information during the ticket sale process. However, you generally only have to provide it once you hit one of the IRS reporting thresholds.
How to provide tax information to Ticketmaster
There are a couple ways you can provide your tax details to Ticketmaster:
- During the seller verification process – When you first register as a ticket seller, you may be prompted to enter tax details like your SSN.
- In your account settings – You can update your tax info like your EIN at any time in your Ticketmaster seller account.
- Via email request – If you don’t provide tax info up front, Ticketmaster may email you later requesting it if you exceed the reporting thresholds.
What happens if you don’t provide tax information
If you meet the IRS reporting thresholds but do not provide your tax information to Ticketmaster, your account may be suspended. Ticketmaster is required by law to obtain proper tax IDs and paperwork for 1099 reporting. So if you refuse to provide your SSN, EIN, or other requested info, you will not be allowed to continue selling tickets through their platform.
In summary, be prepared to furnish your tax ID and related details if you plan to sell a lot of tickets through Ticketmaster. This ensures you stay compliant with IRS third-party reporting requirements and can continue using the Ticketmaster platform.
Examples of potential tax forms from Ticketmaster
Here are some examples of tax reporting forms you may receive from Ticketmaster if you exceed the reporting thresholds:
Form 1099-K
If you exceed 200 transactions and $20,000 in gross sales, you will receive a 1099-K summarizing your payment transactions for the year. It includes your total proceeds and transaction amounts. This gets reported to the IRS.
1a Gross amount of payment transactions | $65,000 |
1b Card payments included in gross amount above | $55,000 |
2 Number of payment transactions | 250 |
Form 1099-MISC
If you exceed $600 in gross sales but less than 200 transactions, you will receive a 1099-MISC showing nonemployee compensation. This also gets reported to the IRS.
1 Rents | |
2 Royalties | |
3 Other income | $650 |
4 Federal income tax withheld |
Frequently asked questions
Why does Ticketmaster require tax information?
Ticketmaster requires tax ID numbers like your SSN or EIN in order to comply with IRS rules around reporting payments made to third parties. This reporting helps the IRS track income for tax purposes.
What if I’m an international seller?
If you’re an international seller with no SSN or EIN, you will need to provide some alternative identifying tax information to Ticketmaster. Usually this involves providing documents that establish identity and tax residency in your specific country.
Can I sell tickets without providing my SSN or EIN?
In most cases, you cannot exceed the $600 or 200 transaction thresholds on Ticketmaster without providing a valid tax ID number. If you refuse to furnish the required tax information, your account will be suspended due to IRS reporting requirements.
What if I exceed the thresholds on multiple Ticketmaster accounts?
If you have multiple Ticketmaster accounts that collectively exceed IRS reporting thresholds when combined, Ticketmaster will request tax information for all of your associated accounts.
What if I’m selling tickets on behalf of someone else?
If you are selling tickets on Ticketmaster on behalf of another individual or entity, you will need to provide their tax information rather than your own personal information.
Conclusion
In summary, Ticketmaster is required to collect tax identification numbers and related information from high-volume sellers in order to meet IRS reporting standards. This includes Forms 1099-K and 1099-MISC reporting. By providing the necessary tax details when requested, ticket sellers can ensure they stay compliant with IRS rules and maintain full use of the Ticketmaster platform.