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The work you perform for a W-2 employer is never your own business. Your business could potentially be as an angler if you have income and a profit motive to that end. Income and expenses would be reported on Schedule C Profit or Loss from business. If this is not a business, then it is hobby income and expenses.
Here are some of the factors taken into consideration.
Business or Hobby? Answer Has Implications for Deductionshttps://www.irs.gov/uac/business-or-hobby-answer-has-implications-for-deductions
The work you perform for a W-2 employer is never your own business. Your business could potentially be as an angler if you have income and a profit motive to that end. Income and expenses would be reported on Schedule C Profit or Loss from business. If this is not a business, then it is hobby income and expenses.
Here are some of the factors taken into consideration.
Business or Hobby? Answer Has Implications for Deductionshttps://www.irs.gov/uac/business-or-hobby-answer-has-implications-for-deductions
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