My son is a singer/songwriter and has been putting everything possible from his 250+ shows per year into his next album. It's entirely self-funded, paying for studio musicians and producers on his own. One of the musicians who performs with him made an unsolicited contribution to help expedite this album release. This gentleman isn't just a friendly musician, he's become a huge fan over the years and wanted to help him get this next album out as quickly as possible.
One day last year, my son got a text saying he'd received $1,000 bank transfer from this guy. Not that it matters but it was completely unsolicited and unexpected.
Does this need to be reported as income along with his other performances, or does it get reported somewhere else? Or does it get reported at all?
Also, using Turbo Tax Home And Business, where would he report unpaid gigs as a loss and performances he did at a discounted price or donated for free (i.e. charity events)? What would this look like in TTH&B? I'm new to this version of TT, so as much direction as possible would be greatly appreciated!
