Two part question: My husband works full-time, and I do photography on the side as a hobbyist. I registered myself as a business because people occasionally payed me for my services. I was only paid a total of $477.00 throughout the year. My husband and I are filing jointly. Do I need to report this as income?
I purchased well over $5000.00 worth of supplies and equipment as a hobbyist. If I do report the amount above as income, then can I use my expenses against that amount? Lots of what was purchased was used directly in my photography. Any help would be appreciated.
