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4H/FFA animals

We received a 1099-MISC for my daughters animals she sold, I get where to enter the 1099, but not sure where to enter her expences

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1 Reply
MaryK4
Employee Tax Expert

4H/FFA animals

The best way to report is to add the Expenses as Miscellaneous Income as a negative: 

 

Steps to Enter 1099-MISC and Expenses in TurboTax:

  1. Under Less Common Income select Miscellaneous Income, 1099-A, 1099-C 
  2. On the Let's Work on Any Miscellaneous Income, Start Other Reportable Income
  3. On the Any other Taxable income? page, select Yes
  4. On the next page, click on the Add button
  5. Enter the information on the Other taxable income (Use 4-H Expenses for 1099-MISC or something similar as the description. )
     

I would recommend writing an itemized list of income and expenses and keeping it with your tax records in case the IRS requests more information.  See 4-H Club or FFA project.

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