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Deductions & credits
if the expenses are for your self-employment work, they are deductible on schedule C. however, the IRS could consider your activity a hobby if you have losses in 3 out of 5 consecutive years, this is determined by the IRS upon audit. in such a case your income would be taxable but your expenses would be non-deductible.
‎August 6, 2021
12:20 PM