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Reselling Taylor Swift Tickets? You’re Going to Have to Pay Taxes

Resellers are set to make huge profits, but the IRS is more likely to notice this year because of recent changes to tax reporting requirements.

Taylor Swift performs in Shanghai in May 2014.
Taylor Swift performs in Shanghai in May 2014.Source: ChinaFotoPress/ChinaFotoPress

For those who were lucky enough to snap up Taylor Swift concert tickets and are planning to resell at a profit, the tax man is coming. 

In the aftermath of the mad rush for seats at the singer’s upcoming tour, resale sites are offering secondhand tickets for wild prices, in some cases tens of thousands of dollars. But those sellers might not realize that any money they make is subject to federal taxes.