TeriH
Employee Tax Expert

Self employed

What a great way to get your supplements!

 

If your business claims a net loss for too many years, or fails to meet other requirements, the IRS may classify it as a hobby. If the IRS classifies your business as a hobby, it won't allow you to deduct any expenses or take any loss for it on your tax return.

So, as long as you are showing a profit, you won't trigger the hobby rules.

Best wishes,
teri

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