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Level 1
January 9, 2025
Solved

Hobby income

  • January 9, 2025
  • 1 reply
  • 3 views

If i have non-taxable hobby income, can i enter my 1099-k income and then cancel it out under "other income"?  I heard its not taxable and this was how you do that.

Best answer by DoninGA

Expert Reviewed

Hobby income is taxable on a federal tax return.

Go to this IRS website for information - https://www.irs.gov/newsroom/heres-what-taxpayers-need-to-know-about-paying-taxes-on-their-hobby-activities

1 reply

DoninGA
Level 15
DoninGALevel 15Answer
Level 15
January 9, 2025

Expert Reviewed

Hobby income is taxable on a federal tax return.

Go to this IRS website for information - https://www.irs.gov/newsroom/heres-what-taxpayers-need-to-know-about-paying-taxes-on-their-hobby-activities