rjs
Level 15
Level 15

Deductions & credits

In addition to expecting to make a profit, if you plan to do this every 3 to 5 years, that sure sounds like an ongoing business.


Filing Schedule C is not much of a hassle. For a simple business like yours it will take 5 or 10 minutes to enter the information into TurboTax. The Schedule C is included in your tax return, so there's no additional effort to file it.


Note that if this activity starts in 2024 and concludes in 2025 you will have to report it in both years. TurboTax will transfer the business information from 2024 to 2025, so filing Schedule C in 2025 will be even easier. You will just have to enter the 2025 income and expenses.