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posted Jun 1, 2019 12:24:06 PM

Can my mom deduct expenses of around 10k for supplies, etc, for a hobby/business I started and she funded? It's basically all art related. Is there any way?

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1 Replies
Intuit Alumni
Jun 1, 2019 12:24:08 PM

No. There are several problems. 1) She can't deduct your expenses on her taxes. 2) Hobby expenses are no longer deductible under TCJA. 3) Unless you have a formal business structure, she can't invest. At most, this is a loan or a gift.

In order for it to be a business, on your tax return, you would have to meet qualifications that prove this is not a hobby.