Half way in, and NEED to get out

Started Nov 30, 2011 | Discussions thread
Frida
Regular MemberPosts: 259
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Re: Other folks covered it...
In reply to markhayphotography, Dec 1, 2011

Frida,

If you were me, would you feel comfortable deducting certain things to claim less of a profit (without claiming a loss)?

For instance, I would NOT deduct my gear (or toys) because that is my hobby. But I would deduct the cost of hosting my website, business cards, blank disks, etc....that would not otherwise directly relate to my profiting from my "hobby" of making photographs. And I would only deduct to the extent that I am not claiming a loss in my income.

Or rather, must it be all or nothing?

Thanks again, folks.

Hi Mark--yes, I think that would be fine. Since all of those things are things you use for your business, but still cost less than what you're making in schedule C income, they'd count as things you could deduct.

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