Most people enjoy hobbies and pastimes, but not everyone realizes that many of these activities can also provide tax deductions. The Internal Revenue Service (IRS) allows taxpayers to deduct certain hobby-related expenses, as long as they are considered ordinary and necessary....
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How To Show Hobby Loss On Schedule C
If you’re a taxpayer who enjoys hobbies such as golfing, fishing, or skiing, you may be able to deduct some of the costs associated with those activities on your tax return. This is possible by claiming the costs as a hobby...
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