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Get your taxes done using TurboTax
While you are waiting to talk to the program manager, let me give you this thought.
If you treated this as a business, it is likely that your expenses would exceed the size of the grant. If you lay out the expenses (like tractor expense, fuel, etc) do the expenses exceed the $6,000?
If so, there is no downside to pretending to be a business, because your income tax won't be affected and your SE tax will go to zero. It may work out for you to be a business, even thought that really isn't the way to do it.
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‎January 30, 2025
4:25 PM