turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
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.

I am trying to find how to write off my daughters FFA animal projects.

 
Connect with an expert
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
Fern
New Member

I am trying to find how to write off my daughters FFA animal projects.

IRS Publication 225 states:
“4-H Club or FFA project.    If an individual participates in a 4-H Club or  Future Farmers of America (FFA) project, any net income received from sales or prizes related to the project may be subject to income tax. Report the net income as “Other income” on line 21 of Form 1040. If necessary, attach a statement showing the gross income and expenses. The net income may not be subject to SE tax if the project is primarily for educational purposes and not for profit, and is completed by the individual under the rules and economic restrictions of the sponsoring  4-H or FFA organization. Such a project is generally not considered  a trade or business.”

In Turbo Tax, If she received a 1099 misc for any winnings/sales amounts, report the 1099 misc in Other Common Income You will enter the amount net of expenses. Then  you would prepare a statement outside of Turbo Tax that showed the total earnings reported on the 1099 misc and list out the expenses. You would have to paper file since you cannot attach the statement to an e-filed return.
https://www.irs.gov/pub/irs-pdf/p225.pdf
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies