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Get your taxes done using TurboTax
I think the offset is the best option for me.
I tired to enter it as a hobby and i had to pay tax on the reported amount on the 1099-k even though it was a complete loss.
I also used schedule c like most suggest but then i was taxed at a higher rate but i could have deductions but after reading more into it this way would only work for a short time as you can not claim a complete loss every year as a business.
ā€ˇFebruary 10, 2021
5:33 PM