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Deductions & credits
Thank you very much for the response.
To operate a drone commercially, you have to obtain a remote pilot certificate from the FAA. I obtained this in December of 2019. I didn't start commercial work until January of 2020. Sorry for the misunderstanding.
I have not started my LLC yet. I am ready to pull the trigger but trying to see if it is advantageous to start this yet this year or wait until January 1, 2021.
In 2020, I did commercial work as a contractor/freelancer (not sure what the best term is). I didn't necessarily have a business (LLC) although maybe it is technically the case? Basically a company hired me to do commercial services for them. I am expecting a 1099-MISC from them in January of 2021. I was not an employee of this company, but they paid me for commercial drone work. I was using this as practice before I started my own company.
To reiterate:
- Purchased the drone in July 2019 and practiced flying for personal use until the end of 2019.
- December 2019 I obtained my remote pilot certification
- In January 2020, I started commercial work as a contractor on the side of my day job until present day (Dec 2020).