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URL:  http://boards.fool.com/hobby-expenses-are-only-deductible-to-the-extent-14538860.aspx

Subject:  Re: Deductible Hobby Expenses? Date:  3/13/2001  4:10 PM
Author:  PaulEA Number:  48326 of 122527

Hobby expenses are only deductible to the extent of hobby income.

You need to first show hobby income to the line 21 of the Form 1040. Hobbies cannot generate a loss.

The IRS will look closely at why you have these horses. If the reason for having the horses was personal then none of the expenses would be deductible because they are personal. Horse 2 could have some possibility getting some of those expenses deductible.
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