Search Results for: Horses live
here's how the irs sees it. millions of people enjoy having hobbies — whether it's photography, antiquing, craft making, collecting coins, or breeding horses. it usually costs money to support a hobby, but in some cases, your hobby can also make you money. >> start your free e-file if you have a hobby
appreciation of the assets used in the activity according to the irs, an activity is deemed as a business if it makes a profit during at least of the last tax years, including the current year — or at least of the last years if the activities mainly consist of breeding, showing, training, or racing horses...
https://www.irs.com/articles/tax-tips-people-who-earn-income-hobby