Taxpayer asks:
I run a hiking group online, and lead regular events with about $25 expense for each and an annual subscription to meetup and admin supplies.
Can this be a hobby tax deduction? I don’t make a profit, but sometimes get a contribution.
Taxgirl says:
It sure sounds like a hobby at this point. Any income that you receive should be reported as “other income” on line 21. Any expenses related to the group should be reported on your Schedule A as an itemized miscellaneous expense.
If this turns into more than a hobby at some point, then you’d report your activities (income and expenses) on a Schedule C.
Like any good lawyer, I need to add a disclaimer: Unfortunately, it is impossible to give comprehensive tax advice over the internet, no matter how well researched or written. Before relying on any information given on this site, contact a tax professional to discuss your particular situation.
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