Business & farm
You earned money from your YouTube activity. However you can report this as hobby income by following the steps below. As a hobby, you are not allowed any deductions from this income due to the current tax law under the Tax Cuts and Jobs Act (TCJA) for the years 2018-2025.
If you choose to enter as hobby income, do not enter the Form 1099-MISC, instead you can use the steps below for hobby income. Be sure to delete any entry for the 1099-MISC if applicable.
To enter hobby income and expenses in TurboTax please follow these steps:
- Once in your tax return, click on Federal Taxes tab
- Choose Wages and Income
- Scroll down to Less Common Income and click Start to to right of Miscellaneous Income, 1099-A, 1099-C
- Click Start to right of Hobby income and expenses
