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https://www.jacksonhewitt.com/tax-help/tax-tips-topics/employment/job-specific-deductions/performance-artist/
Feb 21, 2021 · If you are a performing artist, such as an actor, dancer or musician, payments that you receive from someone who is not your employer (for example, payments for freelance work) may be considered income from self-employment and reportable on Schedule C, Profit or Loss from Business. You may deduct all associated expenses to your self-employment income on your Schedule C.
https://www.nolo.com/legal-encyclopedia/tax-deductions-artists.html
A self-employed artist may deduct any expense that is: directly related to the art activity; ordinary and necessary, and; not lavish or extravagant under the circumstances. Common deductions by artists include the following: Business Travel: Artists often travel out of town, or even out of the country, to work or show their art. You may deduct all reasonable expenses you incur when doing so.
https://www.irs.gov/instructions/i2106
If you meet all the requirements for a qualified performing artist, include the part of the line 10 amount attributable to performing-arts-related expenses in the total on Schedule 1 (Form 1040), line 11, and attach Form 2106 to your return. Your performing-arts-related business expenses are deductible whether or not you itemize deductions.
https://voidacademy.com/a-simple-tax-guide-for-artists/
Jan 31, 2018 · If you made $3,000 on your art the whole year and made no profit on it, meaning the expenses to make the art were either $3,000 or more (which would put you at a loss), this would qualify in the eyes of the IRS as a hobby.
https://ttlc.intuit.com/community/taxes/discussion/what-qualifies-as-a-performing-artist/00/780809
Jun 08, 2019 · - Performed services in the performing arts as an employee for at least two employers during the tax year. - Received at least $200 in wages from each of the two employers. - Had allowable business expenses of more than 10% of gross income from the performing arts - Had an adjusted gross income of $16,000 or less before deducting these expenses.
https://turbotax.intuit.com/tax-tips/self-employment-taxes/the-musicians-guide-to-taxes-top-tax-deductions/L3dFXFokF
Running a music business likely requires certain monthly expenses, and you can claim these as deductions to reduce your tax liability. These include: booking fees for recording studios. rent for classroom or teaching space. utility costs for your workspace.
https://www.accountingtoday.com/news/lawmakers-introduce-tax-deduction-fix-for-performing-artists
The QPA permits an above-the-line tax deduction for qualified performing artists but has been limited since it was enacted to a total adjusted gross income of the taxpayer to $16,000. PATPA would update the deduction to $100,000 for single filers and $200,000 for married artists filing jointly.
https://www.irs.gov/newsroom/hobby-or-business-irs-offers-tips-to-decide
A necessary expense is one that is appropriate for the activity. Limits on Hobby Expenses. Generally, taxpayers can only deduct hobby expenses up to the amount of hobby income. If hobby expenses are more than its income, taxpayers have a loss from the activity.
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