New Tax Law Change Affects the Question – Is it a Business or a Hobby

New tax law change makes it even more important to revisit this question.

The Tax Cut and Jobs Act (TCJA) no longer allows the deduction for the Miscellaneous Itemized deductions subject to 2% of adjusted gross income (AGI). This is where hobby expenses were allowed prior to 2018 as an itemized deduction, up to amount of hobby income. Please revisit the (9) factors that the IRS looks at to determine Hobby or Business. (PDF)