Yep. it's that time of year again.... I Put a lot of cash in the Elco last year with the new engine and everything. Trying to figure out a legal way to claim it, without claiming it a "buisness" expense. Any ideas?:secret: Thanks in advance.......

'Hobby expenses'

"hobby expenses" not deductible, I think?

I can't think of a way to do that where you wouldn't risk trouble.

"hobby expenses" not deductible, I think?

I can't think of a way to do that where you wouldn't risk trouble.

they wouldn't have a space for it on a 1040 would they?

"Hobby expenses" are deductible up to the amount of money you make on said hobby. You can deduct only if you made money with your Elco.

"Hobby expenses" are deductible up to the amount of money you make on said hobby. You can deduct only if you made money with your Elco.

so it's not so much a hobby but a money losing business?

@%#^@#$ complex tax code :angry: