I have income and expenses from a race horse. Where do I enter it on my return?

[Coleen3]

Schedule C Profit or Loss from Business is the form you would use. Consider it self-employment income. In order to take a portion of the purchase price, you will need to claim depreciation. Here are several links you may find helpful:

http://smallbusiness.chron.com/irs-rules-regulations-horse-related-businesses-68158.html

http://www.thehorse.com/articles/35597/cracking-the-tax-code

http://www.horsechannel.com/horse-news/2011/02/07/tax-issues-equestrians.aspx

[horses]

What about in Canada?

[DoninGA]

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@horses wrote:

What about in Canada?

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This is the TurboTax US user community website.
Go to this TurboTax Canada website for assistance with a Canadian tax return or the TurboTax Canada editions - https://turbotax.community.intuit.ca/tax-help

[mesquitebean]

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@horses wrote:

What about in Canada?

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Are you asking about a Canadian tax return?  This is the USA forum. 

Here's the Canada TurboTax Community forum:

https://turbotax.community.intuit.ca/community/turbotax-support/help/03/en-ca