I sold my personal horse (never used in business) for a gain. Is this reportable? Sch D? And besides the original cost, what else can I deduct from the sale proceeds?

Is this hobby income on Sch C and I can deduct hobby expenses (without being a loss(=)?

posted

No. Unless you are in the business of buying or selling horses, you would not report the sale of your own personal horse.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Do you have an Intuit account?