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January 9, 2025
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Hobby income

  • January 9, 2025
  • 1 reply
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If i have non-taxable hobby income, can i enter my 1099-k income and then cancel it out under "other income"?  I heard its not taxable and this was how you do that.

Best answer by DoninGA

Hobby income is taxable on a federal tax return.

Go to this IRS website for information - https://www.irs.gov/newsroom/heres-what-taxpayers-need-to-know-about-paying-taxes-on-their-hobby-activities

1 reply

DoninGA
DoninGAAnswer
Employee
January 9, 2025

Hobby income is taxable on a federal tax return.

Go to this IRS website for information - https://www.irs.gov/newsroom/heres-what-taxpayers-need-to-know-about-paying-taxes-on-their-hobby-activities