Thread: Tax info
View Single Post
  #10 (permalink)  
Old Thu Apr 20, 2006, 04:28pm
insatty insatty is offline
Official Forum Member
 
Join Date: Apr 2002
Posts: 131
All of the deductions referred to are reported on Schedule C, on which you will also report all of your officiating income. If you keep good records like I do regarding your deductions, you will probably have a net loss that will reduce your adjusted gross income. If you have too many losses over the years, you risk the IRS recharacterizing your officiating "business" as a hobby and disallowing any loss.
Reply With Quote