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Get your taxes done using TurboTax
Never mind I found the answer to my own question:
Beginning in 2018, the IRS doesn't allow you to deduct hobby expenses from hobby income. you must claim all hobby income and are not permitted to reduce that income by any expenses. For tax years prior to 2018, you can deduct hobby expenses as an itemized deduction subject to 2% of your adjusted gross income.
‎April 1, 2024
6:59 PM
3,645 Views