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Is it a hobby or business for income tax?  email this discussion to a friend?

myLot reputation of 66/100. connierebel (536)   ranked 1,650 out of 26,157 in make extra money 4 years ago

I didn't make enough online this past year to worry about it anyway, but I was wondering if the money we get online from sites like this, and GPTs, writing, etc, are considered business or hobby income. If business, we would need to pay self-employment taxes, but if its hobby, you can claim it on the regular tax form. I don't think I spend enough time and effort at it for it to be considered a business.

 

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tags:  online income, taxes
 
1. myLot reputation of 45/100. frygirl (362)   ranked 3,649 out of 26,157 in make extra money   4 years ago

thats a very good question that we need answered .

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