hobby losses arent deductible.
in some cases, you can deduct costs from income, but only up to the amount
of income. only businesses can deduct losses (in this context). it is
unlikely you can pass autox off as a business (as a competitor anyway).
im not an accountant. turbo tax or other sources can give you more info.
-james c
OSP - Our Salary Pyre
----- Original Message -----
From: "Arie Villasol" <autoxin@yahoo.com>
To: <ba-autox@autox.team.net>
Sent: Thursday, April 11, 2002 10:18 AM
Subject: Hobby tax deductions.....
> Does anyone have any experience with expensing AutoX
> related expenses on your income tax?
>
> I'm trying to figure out if it is possible. I thought
> I'd ask because I know someone has probably already
> explored this route at one point in there AutoX
> careers.
>
> If anyone has any advice on this, legal or otherwise,
> please respond to me directly.
>
> Thanks in advance!
> Arie Villasol
> Yahoo! Tax Center - online filing with TurboTax
> http://taxes.yahoo.com/
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