The IRS and your hobby
 

I don't know if any one has seen the artical on MSN money about selling your hobbies. Hobbies provide a great way to relax from the daily grind for many people and it is also offer a way to make extra spending money. Be aware that when your hobby produces income you owe tax on it. A good friend of mine who was making and selling from her home and now she has to pay lots of money to the IRS.

I know Uncle Sam always has his hand out. Share the wealth and all.
I don't sell my quilts, I just give them away. No income from here at all.

Maybe a good write-off??? Naaa - probably not.

Funny how one would owe if sold but cant write off if lost, ruined or given away..

If you sell online, you will hear from the IRS by the end of the year!

Why would anyone think they would NOT owe income tax on money raised by selling quilts or other things they make? http://www.freesmileys.org/smileys/s...onfused001.gif

I look at it this way.......

If I sell my hobby, it ceases to be a hobby and more like work.

I give mine away too!

possibly because you rarely make any $$ at it! Usually you just cover costs, so it is NOT income, just recouping your $ spent!

How true...;0 But then it isn't too hard to show that, is it? Why did you say that they would hear from the IRS by the end of the year? Is this a new thing, or do they do that by the end of every year?