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We received a 1099 for the money we earned through bowling tournaments this past year as part of our company's extracurricular activities. However, we had to cost associated with the tournament such as the entry fee, shipping costs, and travel. Can any of these cost be deducted?


Expert Mark Anderson's Answer:

Yes.  Those costs can be deducted as a part of generating the revenue or income. 

Mark Anderson, JD


21 yrs experience

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