Unfortunately, the deduction of hobby expenses has been eliminated by the Tax Cuts and Jobs Act of 2018 up until tax year 2025. So, if you are operating a hobby, you should report the income but you will get no deduction for the related expenses.
The income should not be reported as self-employment income, but rather as Other Income.
So, you should delete the business you set up for your hobby and that may prevent the loss carryover from showing on your tax return.
You should enter the hobby income by using the following menu tabs in TurboTax:
- Income and expenses
- Less common income
- Miscellaneous Income, 1099-A, 1099-C
- Hobby income and expenses
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
