I still want to encourage your participation here - particularly when tax season starts after the new year. A new, fresh and unique perspective and interpretation/understanding of tax law is always welcomed and encouraged. For example, based on my reading of the tax laws concerning exchange students, it had never occurred to me that one could do such as a business, and still be within the legal descriptions of tax law specifically concerning exchange students. I actually wish I had thought of this first! I see it as a loophole, and one that should (and can) be taken if there's a realistic possibility of using the IRS's own rules to one's advantage, should it ever be challenged.
I'm no lawyer, but based on your input, I can only say for your specific and explicit situation, "why not?". Of course, participants who are offering help do need to be careful. If you were to have asked me if you could treat this as a business, then it would have been hard pressed to say no, because I would (and was, after you clarification above) be unable to find anything to support a "no" answer. If some rule exists that says you can't do this, then it's so well buried in the IRS Pubs I can't find it, and I'd bet anyone at the IRS reviewing your tax form would be able to either.
The primary focus and purpose of this forum is two-fold.
- To assist users of the TurboTax products with the use of those products in the way of functionality, navigation, and any problems or issues the software may create or cause for the users.
- To assist with the interpretation of tax law, as we the common user with no formal training in tax law or interpretation of same, understand it and as generally accepted and interpreted by the common reader to the best of one's ability.
So by all means, please hang around, check out a few of the posts from others and throw in your two cents where you believe it can be helpful, useful, and/or information for all. During tax season in particular, there's no such thing as "to much help". 🙂
