234839
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

gfield840
New Member

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?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
Coleen3
Intuit Alumni

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?

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. 

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question