The best way to report is to add the Expenses as Miscellaneous Income as a negative:
Steps to Enter 1099-MISC and Expenses in TurboTax:
- Under Less Common Income select Miscellaneous Income, 1099-A, 1099-C
- On the Let's Work on Any Miscellaneous Income, Start Other Reportable Income
- On the Any other Taxable income? page, select Yes
- On the next page, click on the Add button
- Enter the information on the Other taxable income (Use 4-H Expenses for 1099-MISC or something similar as the description. )
I would recommend writing an itemized list of income and expenses and keeping it with your tax records in case the IRS requests more information. See 4-H Club or FFA project.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
