Vanessa A
Expert Alumni

Get your taxes done using TurboTax

If it is a business, it does not have to be an LLC, it is can just be a business.  If you are making handmade custom gifts per order this is likely a business with the intention of making a profit. If you are buying equipment so you can sell your items, this would likely fall on the side of a business. If treating this as a business, then you can enter this as an asset and take a deduction for it.

 

Here’s how to tell the difference between a hobby and a business for tax purposes

 

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