Question: The taxpayer is engaged in an activity which involves a hobby. In 2023 the activity generates revenue of $2,200 and expenses of $3,600, and $2,200
The taxpayer is engaged in an activity which involves a hobby. In 2023 the activity generates revenue of $2,200 and expenses of $3,600, and $2,200 of the expenses are deductible. Where should the $2,200 of the deductible expenses be deducted on the taxpayer's Form 1040?1. Schedule C2. Schedule A, Miscellaneous itemized deductions subject to 2% AGI (which means the expenses are not deductible in 2023.
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