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Level 4
March 11, 2021
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FARMING

  • March 11, 2021
  • 1 reply
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What is considered when determining hobby vs. for profit farming?

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Best answer by sm5463

Hobby versus business determinations always vary on a case-by-case basis. Here is a starting point for factors to consider:

https://www.irs.gov/faqs/small-business-self-employed-other-business/income-expenses/income-expenses

1 reply

sm5463Answer
Level 3
March 11, 2021

Hobby versus business determinations always vary on a case-by-case basis. Here is a starting point for factors to consider:

https://www.irs.gov/faqs/small-business-self-employed-other-business/income-expenses/income-expenses

jesdq1Author
Level 4
March 11, 2021

Thank you, I was aware there was a list like this, but could not find it on IRS site