Commercial and taxes
 

How is everyone reporting commercial slaes income? As business income or hobby income?

You need to determine this by IRS rules.
http://www.irs.gov/newsroom/article/...169490,00.html

I report all " fish income" as a small business.

Report it on a schedule C and deduct all your expenses. But if you have a loss you generally can't deduct it against your other income.

yes I have always claimed it but I have no idea what the accountant does with the info.

What Mike said, schedule C

Thanks. Will do schedule C.

"if you have a loss you generally can't deduct it against your other income." Best to talk with a tax accountant on this.

I have no problem when I,ve had a loss /

front page .. <9999999>

Creative accounting is the term we use ><>lol:jump1:

oh ,

But I got audited once .. & that,s worse than a horror show .

They don,t just check what was flagged / but the whole return .. you may not want to go there ;;;;;