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PSA for Ticket Sellers (aka "greedy billionaires")
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Tiger Boards - Clemson Football
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Replies: 12  

PSA for Ticket Sellers (aka "greedy billionaires")

[1]
Jan 8, 2022, 7:48 AM

FYI. Effective January 1st, Venmo, PayPal, Cashapp, Zelle, etc. will now be reporting your obscenely high revenues to the IRS if you receive more than $600 in TOTAL transactions in the course of the year. So if you sell your 2 tickets to your brother-in-law for face value to a couple games and then an old boat motor for another $300 and use any of these apps, Uncle Sam is getting his cut!

D@&N! it feels soooo good to stick it to those greedy billionaires! To whom do I send the thank you letter?

https://www.nbcnews.com/news/venmo-paypal-zelle-must-report-600-transactions-irs-rcna11260

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^^^thinks people w $$ use a trackable medium

[1]
Jan 8, 2022, 7:59 AM

Now that’s funny

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Re: ^^^thinks people w $$ use a trackable medium


Jan 8, 2022, 8:54 AM


Now that’s funny




^^^^thinks anybody with $5k in the bank uses a secret billionaires network to complete small transactions.

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Re: PSA for Ticket Sellers (aka "greedy billionaires")

[1]
Jan 8, 2022, 8:52 AM

Stubhub sent me an email saying I had to give them my SSN or I would be banned from selling. I haven't gotten anything from Ticketmaster yet. Stubhub is connected to MLB and where I sell the games I cannot attend. They also said they will be sending out 1099 forms at end of year. F' them.

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Re: PSA for Ticket Sellers (aka "greedy billionaires")

[3]
Jan 8, 2022, 8:59 AM

Never underestimate the ability of a politician/government to find a way to get more of your money.

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Yep - got the email from Stubhub over a week ago...

[1]
Jan 8, 2022, 8:57 AM

And since Clemson has gone to all digital tickets I don't know of a way to sell my unused tickets without going through one of the brokers. Just another way that our activities can be tracked and is just one of the reasons I hate these digital tickets.

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Re: PSA for Ticket Sellers (aka "greedy billionaires")


Jan 8, 2022, 8:59 AM

All 614 of them.

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PSA for people who don't buy season tickets

[2]
Jan 8, 2022, 9:32 AM

If you ever saw what it costs to buy season tickets for the tickets that end up being pricey on StubHub, etc. you'd realize that resellers make zero dollars on resales most years. Heisman level IPTAY is $12,000. Then you buy your tickets at, say, $650/seat for a season. That's another $5200 if you buy 8 season tickets. Now you're in it for $17,200. Let's say you use 4 50-yard line seats and sell 4 when Notre Dame is in town. If you sell them for $500 each, you get $2000 back. For a S.C. State or a UConn or the like you can't get face for the tickets you paid face for. And in an off year like 2021, which included no marquee games, there are many tickets you can't give away. If you don't like paying more than face, get your own season tickets. Otherwise thank the person who has been investing in IPTAY for decades, built up their equity points, and has access, and can sell to you, excellent seats without you having to dig deep year in and year out through good and bad seasons to get good seats. Trust me. You saved money.

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Re: PSA for people who don't buy season tickets


Jan 8, 2022, 9:43 AM

Agree. I lived so far away for many years that I stopped my Iptay membership. When I moved back close enough to attend games after 35 years I found someone who had 8 tickets and wanted to sell 4. We pay a little over the ticket price + seat equity amount and have a handshake deal that we can keep doing this for as long as we want. The seller also allows us to request post season and neutral site game tickets through them. Seems like a fair deal all the way around to me. I’m and old (school) guy and don’t have Venmo and that stuff so we pay with a check. We used to buy some tickets through StubHub and haven’t had any problems but just hate paying the fees. Would rather pay a fair price to a fellow Tiger.

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Re: PSA for people who don't buy season tickets


Jan 8, 2022, 9:53 AM


If you ever saw what it costs to buy season tickets for the tickets that end up being pricey on StubHub, etc. you'd realize that resellers make zero dollars on resales most years. Heisman level IPTAY is $12,000. Then you buy your tickets at, say, $650/seat for a season. That's another $5200 if you buy 8 season tickets. Now you're in it for $17,200. Let's say you use 4 50-yard line seats and sell 4 when Notre Dame is in town. If you sell them for $500 each, you get $2000 back. For a S.C. State or a UConn or the like you can't get face for the tickets you paid face for. And in an off year like 2021, which included no marquee games, there are many tickets you can't give away. If you don't like paying more than face, get your own season tickets. Otherwise thank the person who has been investing in IPTAY for decades, built up their equity points, and has access, and can sell to you, excellent seats without you having to dig deep year in and year out through good and bad seasons to get good seats. Trust me. You saved money.




Preach it! But just know you'll have to make that case to Uncle Sam if you fail to report your "profits" for the sale of the tickets over face value. And I think IPTAY is considered a charitable donation, so you can't add that to the costs. Same goes for lawn mower, lawn tool, old car parts or garage sales that use these 3rd-party apps to transact. I know I am sure darn sick and tired of seeing these billionaires skate by with their unpaid taxes on proceeds from selling tickets and old car parts. ;)

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Not exactly


Jan 8, 2022, 9:33 AM

Only transactions labeled as commercial are required to be reported not payments between family and friends. Venmo relies on the user to select the correct category when creating the transaction. There's just gonna be a lot more tickets being sold between family and friends now.

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Re: Not exactly


Jan 8, 2022, 9:43 AM

geech72 said:

Only transactions labeled as commercial are required to be reported not payments between family and friends. Venmo relies on the user to select the correct category when creating the transaction. There's just gonna be a lot more tickets being sold between family and friends now.


Using the Family& Friends means "no recourse" for the seller if the deal goes sideways.

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Re: Not exactly


Jan 8, 2022, 10:05 AM

Does Venmo provide any kind of buyer's protection? It was my understanding that they're just interested in making sure the cash changes hands correctly and didn't guarantee any kind of satisfaction for what that cash was supposed to purchase.

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