It's the best time of the year for sports in Massachusetts. Baseball is into the postseason (sorry Sox fans) the Bruins and Celtics seasons are off to a great start and we're right in the thick of the NFL season.

Massachusetts residents are known to take their sports pretty seriously and that means most are willing to pay a pretty penny for tickets to see their favorite team hit the field, court, or ice. But what if you're trying to sell those tickets? A recent law that went into effect at the beginning of 2022 is changing the way things work.

As an avid Bruins fan, I was pretty pumped to score some playoff tickets earlier this year but was sorely disappointed when after two and half years of dodging it, I tested positive for Covid. After I stopped sobbing over the situation, I realized that I needed to at least recoup the money I spent on the very good seats.

I've been a huge fan for years and have dealt with buying and selling tickets not only through Ticketmaster but also through aftermarket ticket websites like StubHub and SeatGeek. So when I couldn't go to the game my immediate reaction was to get these tickets online, but as I did so I was met with new restrictions on online ticket sales.

I received a notification on Ticketmaster, StubHub, and SeatGeek letting me know that if anything I sold totaled more than $600, I would be taxed on it and was required to enter a tax ID number. Seriously? So if buy something, and pay local taxes on it, I then have to pay taxes on reselling it? Even if you're not making a profit, or even losing money on them, if your total payout is more than $600, regardless of how many tickets you're selling. It's pretty outrageous.

According to information provided by StubHub, starting on January 1, 2022, the IRS has updated its 1099-K regulations to require all businesses that process payments to file a 1099-K for all sellers with more than $600 in gross sales in a calendar year.

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