- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
Thanks for th link. but I have already visited this. The reason why I ask is because I do not sell in effort to "make a profit" but I do rely on it to pay for bills. If it was a lower amount I would be comfortable stating it was a hobby but I am afraid at 14k, IRS would see it as a suspicious amount to not be considered a business. So I don't know if to claim it under hobby income or file taxes differently as a self-employment.
Simple terms, is 14k too much for the IRS to be considered a hobby, would it raise a red flag and trigger an audit? If not, how to I file it as a hobby income. ?
‎December 17, 2022
7:19 AM