Explore the 1,000’s of tax questions answered by professionals.

Back to list

QUESTION DETAIL

Related User

Votes

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?


ANSWER


Expert Mark Anderson's Answer:

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

Mark Anderson, JD

Montana

21 yrs experience

  • Currently /5 Stars.
  • 1
  • 2
  • 3
  • 4
  • 5
110 Ans.

COMPANY INFORMATION




We do not offer or provide any investment advice or services or opinion regarding the nature, potential, value, suitability or profitability of any particular security, portfolio of securities, transaction or investment strategy.

Copyright © 2024 BIDaWIZ, Inc. Privacy Policy | Terms & Conditions