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Have a YouTube channel. Do it as a hobby. Dont pay for editor or anything, else, really. Just record videos and upload. Is that still schedule C?

I received a 1099-MISC. Because of that, I am automatically considered a business? I entered the 1099-MISC, and it said I need to upgrade because it's self-employed income. Well, i guess it is? I mean I have a "day job" but I guess this would be self-employment? 

 

And I keep seeing something that says schedule E, but nowhere to enter that and all I see is schedule C. 

 

To avoid any headaches on my end, should I just list it as schedule C "self-employment" income even though I just do it on the side? 

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2 Replies
AmyC
Expert Alumni

Have a YouTube channel. Do it as a hobby. Dont pay for editor or anything, else, really. Just record videos and upload. Is that still schedule C?

1. You need to list the income but where is the question.  Let's take a look at  Earning side income: Is it a hobby or a business? which lists 9 factors after stating that a hobby is for recreation, not for profit:

  • Whether the activity is carried out in a businesslike manner and the taxpayer maintains complete and accurate books and records.
     
  • Whether the time and effort the taxpayer puts into the activity show they intend to make it profitable.
     
  • Whether they depend on income from the activity for their livelihood.
     
  • Whether any losses are due to circumstances beyond the taxpayer's control or are normal for the startup phase of their type of business.
     
  • Whether they change methods of operation to improve profitability.
     
  • Whether the taxpayer and their advisors have the knowledge needed to carry out the activity as a successful business.
     
  • Whether the taxpayer was successful in making a profit in similar activities in the past.
     
  • Whether the activity makes a profit in some years and how much profit it makes.
     
  • Whether the taxpayers can expect to make a future profit from the appreciation of the assets used in the activity.

2. If this is a side business- meant to make money- report it on Sch C. If this is hobby income and you don't really expect anymore, enter it like this:

  1. Go to income
  2. Select 1099-Misc
  3. Add payor information
  4. Continue
  5. Describe the reason - Hobby income
  6. Continue
  7. None of these apply
  8. Continue
  9. Did it involve work like main job? Select No, continue
  10. How often, select in 2023
  11. Intent to make money? No, continue
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Have a YouTube channel. Do it as a hobby. Dont pay for editor or anything, else, really. Just record videos and upload. Is that still schedule C?

DISREGARD: I was able to locate where.

 

I don't have the option to enter a reason. Did I click on the wrong thing? 

My next option is "royal investment income from a natural...."

or

"royalty income from being self-employed..." 

 

 

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