Yes. If this is not a business, you are not engaged in the activity for a profit seeking venture and you consider it a hobby then you can treat it and list it as a hobby. As a hobby any expenses involved with it would be used on itemized deductions if you can use that. These expenses would be subject to a 2% reduction of the adjusted gross income (AGI) and only the excess would be added to your other itemized deductions.
The dollar amount and volume of time spent on this could be a factor in determining if you are engaged in this activity for profit. The fact the value is for products, as you see from the Form 1099, as opposed to cash under the tax law Amazon is required to report it.
What could possibly be "any actual expenses that are ordinary and necessary for you to receive and keep the products to the extent of the income value." I just started as an Amazon Vine reviewer, and I am looking ahead to see if I incur more than $600 in ETV, and I declare it as business income, what deductions can you take to reduce the income?
I don't see anything in IRS publications that would indicate any specific income limit for income to be from a hobby. You can see what the IRS looks at when determining whether income is from a business or a hobby using this link: https://www.irs.gov/faqs/small-business-self-employed-other-business/income-expenses/income-expenses
As of tax year 2018, expenses associated with hobby income are no longer deductible on your tax return. The previous deduction described in the first answer to this post was eliminated with the 2018 tax law.
If you receive a 1099-MISC, you must enter it on your tax return. How TurboTax will enter it depends on how you answer the questions in the interview. If they are hobby type answers, TurboTax will enter it as hobby income and it will be shown on line 21 of Schedule 1 and on line 6 of form 1040.