Ask The Taxgirl: Hobby Expenses
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.
Before you go: be sure to read my disclaimer. Remember, I’m a lawyer and we love disclaimers.
If you have a question, here’s how to Ask The Taxgirl.
