Thread: Ponding tax deductable?
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Old 10-06-2003, 05:56 PM
John Hines
 
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Default Ponding tax deductable?
(Oingofan) wrote:

Turn your hobby into a business and write it off:

Has anyone done this before with ponding (selling Koi, etc.)?

No, but I've tried with other hobbies, you have a limit (like 2 years)
to how many deductions you can take, before you have to show a profit,
or the IRS says "its a hobby" and disallows your deductions.

A hobby isn't a perpetual tax right off.
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