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Deductions & credits
You can deduct any expenses that are ordinary and necessary to generate the income you are receiving. However, it sounds like all you are doing is receiving money for chores done in the past, so your deductions would be minimal at best. One thing I can think of is the cost of preparing your business schedule on your tax return if you pay extra for that and it is solely for reporting the income you reference.
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March 14, 2024
8:05 PM