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Yes, you actively participate in your side-business as a gate attendant.
See the following material participation tests from IRS Publication 925, summarized as:
Participation. In general, any work you do in connection with an activity in which you own an interest is treated as participation in the activity.
Thank you for your reply....just want to confirm based on the following found in the Turbo Tax info tab:
This means that you were actively working in the business on a consistent, year-round basis. (An investor normally does not qualify.)
Work more than 500 hours in the year, or between 100 and 500 hours in certain cases, OR
- Perform all the work, even if you work fewer than 100 hours, OR
- Worked actively for five of the last ten years (they do not have to be consecutive) or three years if it was a personal service, such as consulting
Do I still mark YES actively participating based on above?
Thanks in advance.
Yes, you definitely mark that you actively participate. The activity is conducted to make a profit and you are being subcontracted to provide a service for another company. The key is that you are being paid to perform a service as an independent contractor.
This is not your money making money for you, this is you physically performing a service for money. You are considered self employed in this type of work.
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