Hobby Income and Expenses
If you are not engaged in the activity for profit, then the activity may be considered a hobby. You are still required to report hobby income on your tax return. See IRS Publication 17 for details.
NOTE: You may not claim hobby expenses (at least through 2025, pending further legislation).
Online
Dashboard
- From within your TaxAct return, click Income.
- On smaller devices, click the menu at the top left corner of your screen, then make your selection.
- Expand the Explore More section.
- Click Add beside Hobby Income.
- Complete the rest of the interview process.
Classic
- From within your TaxAct return, click Federal.
- On smaller devices, click the menu at the top left corner of your screen, then make your selection.
- Click the Other Income drop-down, then click Activities not for profit.
- Complete the rest of the interview process.
Desktop
- From within your TaxAct return, click Federal.
- Click the Other Income drop-down, then click Activities not for profit.
- Complete the rest of the interview process.