Deductions & credits

You can file this as Other Income in line 21 of your Tax Return. This area is designated for the Income and Expenses generated by Hobbies or other activities that are not intended to create a profit. The trick to this is that you cannot take a loss from this income. If you declare $1000.00 in income you can only expense $1000.00.

Follow these steps to file this income and it's subsequent expenses:

1. Log in to your TurboTax Account
2. From the main upper most tab select Federal Taxes
3. In the secondary tab select Income and Expenses
4. Scroll down to Less Common Income and select Show More
5. Once the screen drops down select Start in Miscellaneous Income
6. Then select Start to Hobby Income and Expenses.

The program will walk you through the process of declaring this income and any expenses related to its activity.