You'll need to sign in or create an account to connect with an expert.
If you intend to pursue this activity as a business with the intent to earn a profit, then you would report this as self-employment income on Schedule C (subject to self-employment income tax).
However, if this is
a hobby or occasional income with no profit
motive, you may report this as "Hobby/Other
Income" on your personal tax return. Hobby expenses are limited to hobby income.
This post may help you decide which is most appropriate: What's the difference between self-employment income and other income?
The easiest way to find either section of TurboTax is to use the Search box at the top right side of the TurboTax header. Click on the magnifying glass, type in "schedule c" or "hobby income", and click on the related jump-to link to go directly to beginning of the section.
If you intend to pursue this activity as a business with the intent to earn a profit, then you would report this as self-employment income on Schedule C (subject to self-employment income tax).
However, if this is
a hobby or occasional income with no profit
motive, you may report this as "Hobby/Other
Income" on your personal tax return. Hobby expenses are limited to hobby income.
This post may help you decide which is most appropriate: What's the difference between self-employment income and other income?
The easiest way to find either section of TurboTax is to use the Search box at the top right side of the TurboTax header. Click on the magnifying glass, type in "schedule c" or "hobby income", and click on the related jump-to link to go directly to beginning of the section.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
ctrapani1999
New Member
amymrdh
New Member
AnywhereArtist
New Member
tmhaumea
New Member
Bbylavinjenna
New Member