IRS likes YOU

[Publius]

Originally Posted by Emperor Ump

Check with your tax professional. My CPA has me claim my baseball income as "hobby income" with a much lower tax rate than self employment. But when claiming "hobby income" you cannot take deductions. In my situation it works out better. YMMV

YOU might not be able to take deductions from your hobby income based on your situation, but...

If the third sentence of your quote were a T/F question on a tax exam, the correct answer would be "F".