Be careful reselling your tickets because the IRS may find you.  With the popularity of Taylor Swift’s Eras World Tour, people were buying her tickets and selling them for an upcharge.  Now the IRS has changed its rules so that anyone who makes more than $600 by re-selling tickets must report that income to the IRS. The previous threshold was $20,000. Ticket prices have exploded in recent years – the average resale price for a ticket to Taylor Swift’s “Eras Tour” was $1,600. The new rules go into effect in December.

The IRS just issued a new law that will crack down on ticket scalpers who made more than $600 off ticket resales on sites such as Ticketmaster.

If you made more than $600, it must now be reported to the IRS otherwise you will face the full extent of the law. pic.twitter.com/C4pSKKVAFl

— Daily Loud (@DailyLoud) September 24, 2023