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Author: CraigCasey One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121219  
Subject: Can I take a deduction on this? Date: 12/3/1999 6:06 PM
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Hello all,

I am trying to determine if I can take a deduction somehow on this and appreciate any input:

In August, I recorded a CD of some music and have been selling it on the internet. (Doing it all myself - no record company etc. involved). I have sold quite a few but am still about $2000 or so from breaking even and am wondering if I can deduct it somehow from my upcoming taxes.

Do I have to open up a business to be able to do this? If so, what tax forms/pubs would I need to look into as far as the write-off goes? Also, do you think it would be worth going to the trouble of setting up a business for the amount of this deduction (which, hopefully, will decrease as the year winds down)?

Thanks in advance for any help you can give.
Craig

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