You can report a negative income, but not on a hobby (see my example above about selling one photograph to deduct expensive lenses and camera).
On Jan 27, 6:48 pm, Kevin Duffey <[email protected]> wrote: > Funny.. if you make enough.. they take your money.. if you dont, they dont > help you in reverse. Sad. > > On Wed, Jan 27, 2010 at 7:27 AM, Streets Of Boston > <[email protected]>wrote: > > > > > About reporting a loss at tax time: You can't if you only make a few > > hundred bucks or so. It's considered a hobby and you cannot deduct > > more than your income on that hobby. E.g. i have a photography hobby > > as well. It would be nice to deduct all the costs of my camera and > > lenses if i just would sell one picture :-). But the IRS don't swing > > that way :) > > > If it's your principal income than the story becomes much different. > > > On Jan 27, 12:37 am, Nathan <[email protected]> wrote: > > > On Jan 26, 3:46 pm, Kevin Duffey <[email protected]> wrote: > > > > > I don't want to sound > > > > like I am going to cheat the system and not pay taxes.. > > > > Well, that is what you sound like. > > > > > The point is, and I know this is at > > > > the discretion of each developer, but if I only make a few hundred > > bucks > > > > over the course of a year, it hardly seems like it's worth while for > > the IRS > > > > to even follow up on.. > > > > It probably is worth it to you to track your expenses that went into > > > making those few hundred bucks. You'll probably come out ahead and > > > report a loss at tax time. > > > > >if I ever get around > > > > to an app that makes money tho, is it any different than if I were > > making > > > > tips as a bartender? > > > > Yes. Consult your tax advisor, they are not on the same line. > > > > >might just ignore the tax thing altogether if there is no way for them > > to be caught. > > > > The IRS can find everything if they do an audit, which you can be > > > chosen for randomly. > > > > Nathan > > > -- > > You received this message because you are subscribed to the Google > > Groups "Android Developers" group. > > To post to this group, send email to [email protected] > > To unsubscribe from this group, send email to > > [email protected]<android-developers%2bunsubs[email protected]> > > For more options, visit this group at > >http://groups.google.com/group/android-developers?hl=en- Hide quoted text - > > - Show quoted text - -- You received this message because you are subscribed to the Google Groups "Android Developers" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/android-developers?hl=en
