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Ben
Ben

William Charles Chuck New Unify offer but only valid for Collin County, TX https://webapps.western.org/UnifyMembershipPromo/Promo3039

BlissfulApathy
BlissfulApathy

Regarding tax treatment of the Unify tickets, it would seem that these are considered as “prizes or awards”. If my findings are correct, it would seem that there are two parts to reporting on taxes:
a) Report the fair market value of the tickets received and report as Other Income in Sch 1.
b) Report capital gain/loss of tickets when sold on Form 8949, as if you received 1099-B.

I am using a fair market value of 100/ticket, given that this was the default buy price on ticketmaster for the specific game night of the tickets received.

Relevant reading: Pub 525 (pg. 33), Pub 550 (pg. 39), Pub 551 (pg. 9).

Would be curious to know how others are treating the tickets on taxes.

Gadget

BlissfulApathy
BlissfulApathy

Adding on to this:
a) you report the income as the amount the tickets were acquired by the institution. Now, I have no clue how much Unify initially paid for those tickets. Maybe nothing. Probably something. Maybe the default value on ticketmaster for new tickets (100).
b) in this case, if we assume that Unify paid the fair market value of the tickets when they acquired them for this promotion, and we make the conservative argument that the fair market value equals the default retail buy price on ticketmaster (100), then the basis for the sale is 200. Proceeds would be total sale amount minus fees.

Note: I’m not a tax pro. I might be wrong about the above.

ben
ben

I’m trying to shut down my account. Is there a way to get the $5 in my savings account out?

arizonapv🌞
arizonapv🌞

You can remove everything but the $5 and then they will send you a check for the $5

Tom
Tom

Apparently direct deposit bonuses post at the beginning of the month and I still haven’t gotten the bonus for a DD from mid October. Should I just assume they are going to screw me since I don’t live in the area? When I applied there were no such terms but they sat on my application for over a month before I called and they expedited. Well at least I got $140 out of the football tickets.

Churnyboy
Churnyboy

Closed my account today via SM through the APP, no ETF.

desert rat
desert rat

My tickets are for 11/25 Ravens game. They are still listed as being for sale on the Ticketmaster site, but when I log into my ticketmaster account, it says I dont have any sold or pending listings. Guess they disappeared somehow.

Kyle ❤️

Nah, you just need to go to the correct site. It’s like the Rams’ Ticketmaster page. https://am.ticketmaster.com/rams/#/

desert rat
desert rat

Thanks. I got that figured out today.

desert rat
desert rat

I called ticketmaster today and they told me to call the Rams, which I did. Always before this, I could access my listing from the original email TM sent me when I listed the tickets for sale, but now that doesn’t work any more. Now I have to log onto my account from therams.com and that works. My tickets are listed on the MyAccount page. Now they just have to get sold!

desert rat
desert rat

And they did get sold a couple days ago. My net is “only” $86, maybe could have held out for a higher price, but since I know nothing about current football, didnt really know what price was realistic. Happy to get the $86, though.

puli hora
puli hora

finally all my tickets sold out today. Made a net of 100$ / 2 tickets for the Ravens game.

Jason
Jason

I’m still waiting for payments tickets sold in Sep 24 and Oct 15. I thought I have set up direct debit, but they ended up as ‘seller credit.’ Which means that the money ends up in some Rams account. I had to manually request a check via email, and following up this week, they say they are busy and I shouldn’t see anything until December. Doesn’t surprise me, I read an article saying that home fans are usually outnumbered by away fans due to low local interest. Well, stop moving from city to city!

Jeff G
Jeff G

Latest round of bonuses posted November 1.

Donnie Darko
Donnie Darko

I was also charged with the monthly fee. The bank changed the terms and conditions of the offer after I applied and are not honoring the Rams tickets or the $100 sign up bonus.

edmund
edmund

I got the tickets right before they cracked down on the location, but I’m feeling like they won’t give me the $100 bonus. I’ll keep it active for now.

edmund
edmund

Never mind, it just posted “RamsCheck_100”

edmund
edmund

Apparently they opened a Right Start checking account for me and I got hit with a fee:

$20 monthly account fee applies if account requirements are not met each month. Requirements include logging into FREE eBanking at least once a month, conducting eight transactions (point-of-sale or signature-based) using your Debit Card per month, and being signed up for eStatements.

The rep was helpful getting me to downgrade the account and waive the fee, but I certainly don’t remember selecting this account.