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Open Question for Writers re: Taxes
I've just filed my taxes, and reported income from writing.
How do the rest of you, who might not write for a living but occasionally make money at it, report your income from writing?
In other news, I found out that even though I am still not eligible to itemize my deductions, I can save the deductions for up to 5 years and take them all at once should I become eligible.
Now all I have to do is become eligible in the next 5 years...
How do the rest of you, who might not write for a living but occasionally make money at it, report your income from writing?
In other news, I found out that even though I am still not eligible to itemize my deductions, I can save the deductions for up to 5 years and take them all at once should I become eligible.
Now all I have to do is become eligible in the next 5 years...
no subject
The IRS publication 526 has more information. It is on page 15 in the section entitled "carryovers."