maybe. it depends on whether the activity is a business or a hobby. read the info from the iRS.
if the activity is classified as a hobby then you are in the worse situation possible the income is taxable but none of the expenses are deductible
https://www.irs.gov/site-index-search?search=HOBBY+LOSSES&field_pup_historical_1=1&field_pup_histori...
and you should read this thread that more directly discusses a hobby under iRC 183
https://taxcure.com/business/irc-183-hobby-loss-rule
