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Section for Hobby Income

Where do we file hobby income and/or deduct equipment costs associated with the jobs.
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3 Replies
PeterM
New Member

Section for Hobby Income

Follow these steps in Turbo tax to enter your hobby income and expenses (keep in mind that you'll only be able to deduct hobby expenses up to the amount of your hobby income)...

  • Click the Federal Taxes tab (button)
  • Click the Wages & Income tab (button) start button
  • Under the Less Common Income heading, click the Miscellaneous Income , 1099-A, 1099-C start button (see 1st screenshot below)
  • On the next screen, under the Miscellaneous Income heading, click the Hobby Income and Expense start button (see the 2nd screenshot below)
  • Enter your hobby income and expenses on the next screen (see 3rd screenshot below)

Section for Hobby Income

I can’t find the section you are talking about and I don’t see any screenshots 

HelenC12
Expert Alumni

Section for Hobby Income

To enter your Hobby information:

  1. Type hobby expenses in the search bar.
  2. Click on Jump to hobby expenses in the results bar.
  3. Enter your information. 

Note: Prior to tax year 2018, hobby-related expenses could be deducted, but this is no longer the case.

 

  • Per IRS Publication 535 Chapter 11, page 42: No miscellaneous itemized deductions allowed. You can no longer claim any miscellaneous itemized deductions, including the deduction for repayments (claim of right). Miscellaneous itemized deductions are those deductions that would have been subject to the 2%-of-adjusted-gross-income limitation

The Hobby expenses box, in TurboTax, is a place holder in case hobby expenses become deductible in future years. 

 

Additional information: Do I have to report hobby income?

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