Can 4H Projects be deducted?

Forum|Forum|7 years ago
June 1, 2019
2 replies
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PaulaM

Alumni - Expert

If you have income from the project, then you can deduct the expenses against the income to arrive at net income.

According to IRS pub 225 (page 73), 'any net income received from sales or prizes related to the project my be subject to income tax. Report the net income on line 21 of Form 1040.'

https://www.irs.gov/pub/irs-pdf/p225.pdf

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ColeenD3

Level 15

As the instructions above state, enter the NET income in other income.

Click Federal Taxes -> Wages & Income and scroll down to Less Common Income
Go to the last selection, Miscellaneous Income and click Start
Go to the last option, Other reportable income and click Start
When it asks, "Any other reportable income?" say yes and then type in a description and the amount to report it on your tax return.