Skip to main content
TurboTax
Community
TurboTax
Community
TurboTax
Community
Y
yaprabhakaran
March 7, 2025
Question

Should I select hobby as the type of income for the form 1099-NEC received for the housing referral?

  • March 7, 2025
  • 1 reply
  • 0 views
No text available

    1 reply

    DawnC
    DawnC
    Employee
    March 7, 2025

    Probably not.   Is this income something you may receive again?   

     

    Generally, income reported on 1099-nec is self-employment income.

     

    You can't deduct any expenses from hobby income, but you can deduct business expenses against that income if the income is reported on Schedule C.   

     

    Here are the 3 questions you will be asked regarding the income on 1099-nec:

     

    • Did it involve work like your main job?
    • Did you receive the income more than once?
    • Did the work involve an intent to earn money?

    Answering Yes to any of those, implies the income is self-employment income.   

    **Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"
      TurboTax Sign In Widget
      TurboTax flag icon

      Unlock tailored help options in your account

      Create an account
      TurboTax Expert Assist
      TurboTax Expert

      Get answers to all your tax questions

      Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Expert Assist.

      Terms & ConditionsCookie settingsAccessibility statement
      Intuit
      TurboTax Credit Karma QuickBooks MailChimp

      ©1997-2022 Intuit, Inc. All rights reserved.
      Intuit, QuickBooks, QB, TurboTax, ProConnect, and Mint are registered trademarks
      of Intuit Inc. Terms and conditions, features, support, pricing, and service options
      subject to change without notice.

      Security Certification of the TurboTax Online application has been performed by
      C-Level Security.

      By accessing and using this page you agree to the Terms of Use.

      Accessibility

      TRUSTe nResult Certified e-File C-Level Security Certification