There are a few reasons why hobby losses do not offset hobby gains. The first reason is that the IRS does not allow taxpayers to offset hobby losses against other income. The second reason is that hobby expenses are not deductible...
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Vera Sandlin
Vera Sandlin is the founder of uptowncraftworks.com, a website dedicated to helping crafters find the materials and tools they need to create beautiful and unique handmade items. Vera has been crafting for over 15 years and has a passion for creating unique and special items that can be enjoyed by others.