- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Self employed
Hi The Mitchman,
Beginning in 2018, the IRS doesn't allow you to deduct hobby expenses from hobby income. you must claim all hobby income and are not permitted to reduce that income by any expenses.
For hobby expense deduction, unless you can itemize deductions on Schedule A, it is not helpful.
https://ttlc.intuit.com/community/taxes/discussion/how-do-i-declare-hobby-income/00/765831
Thanks.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎August 31, 2022
3:43 PM