Thank you for the reply.
My situation is this. I am still putting in the time and effort, but have had net losses for the year for a few years. However, I could very well make $100k tomorrow. Then what? If I had filed for the past 7 years as self employed, then in 2021 file the daily fantasy sports losses as a hobby, what happens when it comes time to file taxes for 2022? I still file it as hobby income even though it's my only source of income? I'd imagine the IRS might look at my tax history and think I'm trying to avoid paying the self-employment tax. Maybe I'm just complicating things but from my perspective, it's not that cut and dried.
