Follow these steps in Turbo tax to enter your hobby income and expenses (keep in mind that you'll only be able to deduct hobby expenses up to the amount of your hobby income)...
- Click the Federal Taxes tab (button)
- Click the Wages & Income tab (button) start button
- Under the Less Common Income heading, click the Miscellaneous Income , 1099-A, 1099-C start button (see 1st screenshot below)
- On the next screen, under the Miscellaneous Income heading, click the Hobby Income and Expense start button (see the 2nd screenshot below)
- Enter your hobby income and expenses on the next screen (see 3rd screenshot below)
